20/06/2023
UK launches new trade scheme to boost Ethiopian exports.
The UK has launched a new trade scheme that will eliminate tariffs on Ethiopian exports to the UK.
According to Reporter, The Developing Countries Trading Scheme, which took effect on June 19, will cut tariffs for products from 65 developing nations including Ethiopia. Zero tariffs will be applied to all Ethiopian exports to the UK under the scheme.
This will reduce costs for Ethiopian exporters and boost sales of key exports like coffee, flower, leather and spices. The scheme also offers more flexible rules of origin that will allow Ethiopian businesses to incorporate inputs from more countries into their products destined for UK consumers.
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The UK's landmark scheme to boost trade with developing countries starts today.