The UK\u2019s ambitious Developing Countries Trading Scheme (DCTS) which launched last year and puts in place simpler and more generous trading terms for Nigeria is still in force.<\/p>\n
The UK officially launched the DCTS in June 2023, which offers fast growing economies like Nigeria one of the most generous sets of trading preferences of any country in the world and demonstrates the UK\u2019s commitment to building a long term, mutually beneficial relationship between both our countries.<\/p>\n
The DCTS means that a wide variety of products that aren\u2019t widely produced in the UK, including food items such as cocoa, plantain, olive oil, tomatoes & other vegetables, yam, shrimp & prawns, and cashew nuts, etc., now benefit from lower or zero tariffs. The scheme sees tariff reductions on over 3000 products.<\/p>\n
Reiterating the UK\u2019s commitment to deepen bilateral trade ties between the UK and Nigeria, British High Commissioner to Nigeria said: Dr Richard Montgomery said: \u201cAs an independent trading nation, the UK is one of the foremost champions of free, fair, and inclusive trade. The UK\u2019s Developing Countries Trading Scheme harnesses the power of trade to support Nigeria and other emerging economies ambition to grow and will boost Nigeria\u2019s non-oil exports.<\/p>\n
\u201cAs the UK Government, we\u2019re keen to maximise uptake of the DCTS. In this respect, I\u2019m happy that the recently signed Enhanced Trade and Investment Partnership (ETIP) will help address underlying export challenges in more detail and thus improve exports and the economic and social wellbeing of both our nations.\u201d<\/p>\n
British High Commissioner to Nigeria said: Dr Richard Montgomery added: \u201cWe have an online facility called the Growth Gateway with a team ready to provide technical assistance and help partner agencies and businesses to boost two-way trade between Nigeria and the UK.<\/p>\n","protected":false},"excerpt":{"rendered":"
The UK\u2019s ambitious Developing Countries Trading Scheme (DCTS) which launched last year and puts in place simpler and more generous trading terms for Nigeria is still in force. The UK officially launched the DCTS in June 2023, which offers fast growing economies like Nigeria one of the most generous sets of trading preferences of any […]<\/p>\n","protected":false},"author":2,"featured_media":32270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-33628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=33628"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33628\/revisions"}],"predecessor-version":[{"id":33629,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33628\/revisions\/33629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/32270"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=33628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=33628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=33628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}