Developing countries will face fewer barriers when they trade with Britain if the Department for International Trade presses ahead with proposed changes. These extra measures would make the proposed Developing Countries Trading Scheme (DCTS) more generous than the EU’s equivalent, the Generalised Scheme of Preferences (GSP), which Britain “rolled over” post-Brexit. Nevertheless, Britain’s prospective new trade deals are dwarfed by its trade with the European Union. However, there is evidence that easing trade rules for poorer countries can have a meaningful impact for their respective industries. Britain’s new consultation also comes after some exporters from developing countries which also have trade deals faced significant disruption post-Brexit.

Source: Daily Nation July 18, 2021 23:36 UTC