Latest news with #DCTS
Yahoo
18-07-2025
- Business
- Yahoo
UK Loosens Trade Restrictions for Developing Apparel-Producing Nations
The government of the United Kingdom has launched new trade measures to benefit developing countries and forge stronger, beneficial trade relationships that it believes will amount to a 'boost for British consumers.' The package of new trade measures, which is part of an existing Developing Countries Trading Scheme (DCTS), aims to simplify the process of importing goods from other countries, which leaders say will help lower prices on necessities like clothing, food and electronics and support job growth in struggling economic markets. More from Sourcing Journal Trump Touts Trade Truce With Indonesia, Indicates India Might Not Be Far Behind Port of LA Sets June Record on 'Tariff Whipsaw'-But Signs Point to Fast Fade EU Leaders 'Prepare for War' Against Trump's Tariffs Updates to the platform include simplified rules of origin, which the government said in a statement would enable thousands of products from up to 65 countries like Nigeria, Sri Lanka, and the Philippines to enter the UK duty free, even when they contain materials and components sourced from across Asia and Africa. The update also ensures that important apparel-sourcing powerhouses like Bangladesh and Cambodia can still export clothing to the British market unencumbered by onerous duties. The announcement said that the changes will open up new commercial opportunities for British businesses to develop more resilient supply chains while investing in emerging sourcing locales. On Monday, ministers spoke with UK business leaders and global ambassadors at a joint Department for Business and Trade (DBT) and Foreign, Commonwealth and Development Office (FCDO) reception. 'The world is changing. Countries in the Global South want a different relationship with the UK as a trading partner and investor, not as a donor,' Minister for International Development Jenny Chapman said at the event. 'These new rules will make it easier for developing countries to trade more closely with the UK. This is good for their economies and for UK consumers and businesses.' Meanwhile, Douglas Alexander, the country's minister for trade policy, explained that 'No country has ever lifted itself out of poverty without trading with its neighbors.' 'Over recent decades trade has been an essential ingredient in lifting hundreds of millions of people out of poverty around the globe,' he added, saying that the scheme will allow some of the world's poorest countries important access to the UK consumer free from both quotas and tariffs. Since it launched in June 2023, the DCTS has created 16 billion pounds ($21.4 billion) in tariff savings. In addition to these changes, the UK government has committed to extending more targeted support to exporters in developing nations to help spur access and aid them in achieving standards compliance. It will also lift barriers related to the trade of services (including digital, legal and financial services) by bolstering trade agreements. Popular UK retailers like Marks & Spencer and Primark are expected to benefit from these changes. M&S director of sourcing Monique Leeuwenburgh expressed support for the evolution in trade policy and rules of origin for garments, saying, 'The ongoing collaboration between the government and retail industry has provided clarity and certainty for businesses in good time.' 'This change will enable us to maintain our long-standing and trusted relationships with our key partners in Bangladesh, to deliver the same great quality clothing and home products at great value for our customers,' she added. Eoin Tonge, interim CEO at Primark, also underscored support for the initiative. 'We welcome the changes to the DCTS rules of origin for garments which remove the potential cliff edge when a country graduates from Least Developed Country status,' he said. 'This will help us to maintain our existing supply chain strategy in our key sourcing markets in Asia, such as Bangladesh and Cambodia.' The UK Fashion and Textiles Association (UKFT) said the changes stand to benefit both the domestic fashion industry and impacted countries. Adam Mansell, the trade group's CEO, said the new rules 'demonstrate a genuine commitment from the government to modernize trade policy to support global economic growth.' Industry leaders from apparel sourcing countries also 'warmly welcome' the UK's shifting trade policies, according to Yohan Lawrence, secretary general of the Joint Apparel Association Forum (JAAF) in Sri Lanka. 'The new rules allowing greater regional sourcing for garments while retaining duty-free access to the UK are a game-changer,' he said. 'With the UK as our second-largest apparel market, this will boost exports, support livelihoods, and help us compete more fairly with global competitors.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fibre2Fashion
15-07-2025
- Business
- Fibre2Fashion
UK relaxes import rules, boosting retailers & developing nations
British consumers and businesses are set to benefit from a new package of trade measures unveiled on July 10, designed to simplify imports from developing countries and support global economic growth. The measures are part of an upgrade to the UK's Developing Countries Trading Scheme (DCTS), which aims to lower prices on everyday goods while promoting trade with some of the world's poorest nations. They will give UK consumers greater access to competitively priced imports, such as clothing. The UK has upgraded its Developing Countries Trading Scheme to simplify imports and boost trade with developing nations. The reforms include relaxed rules of origin, supporting tariff-free access for goods like garments from countries such as Bangladesh and Sri Lanka. Retailers like M&S and Primark are set to benefit from lower costs and stronger supply chains. Key reforms include simplified rules of origin, allowing more products from countries such as Nigeria, Sri Lanka, and the Philippines to enter the UK tariff-free — even when made using components from across Asia and Africa. Countries like Bangladesh and Cambodia will continue to enjoy zero tariffs on goods such as garments and electronics, British Embassy Phnom Penh said in a release. 'The world is changing. Countries in the Global South want a different relationship with the UK as a trading partner and investor, not as a donor. These new rules will make it easier for developing countries to trade more closely with the UK. This is good for their economies and for UK consumers and businesses,' said Minister for International Development Jenny Chapman. Retailers such as M&S and Primark are expected to benefit significantly, gaining improved access to competitively priced imports and more resilient supply chains. Over £16 billion (~$ 21.52 billion) worth of UK imports have already benefitted from tariff savings under the DCTS since its launch in June 2023. 'We welcome the changes to the DCTS rules of origin for garments which remove the potential cliff edge when a country graduates from Least Developed Country status. This will help us to maintain our existing supply chain strategy in our key sourcing markets in Asia, such as Bangladesh and Cambodia,' interim chief executive at Primark, Eoin Tonge said. The changes also include new support measures to help exporters in developing nations meet UK import standards, alongside efforts to ease trade in services like digital, legal, and financial sectors. These steps are part of the UK's broader 'Trade for Development' agenda and its newly published Trade Strategy, aimed at growing the economy, supporting households, and strengthening international partnerships. The announcement was made at a joint reception hosted by the Department for Business and Trade (DBT) and the Foreign, Commonwealth & Development Office (FCDO), attended by British business leaders and foreign ambassadors. 'UKFT welcomes these additional changes to the Rules of Origin under the DCTS, which will bring real benefits to the fashion industry in the UK and in DCTS countries,' added Adam Mansell, CEO, The UK Fashion & Textiles Association. 'We warmly welcome the UK's Trade Strategy. The new rules allowing greater regional sourcing for garments while retaining duty-free access to the UK are a game-changer,' stated Yohan Lawrence, secretary general of the Joint Apparel Association Forum (JAAF), Sri Lanka. Fibre2Fashion News Desk (HU)
Fashion United
14-07-2025
- Business
- Fashion United
UK government introduces new trade measures for developing countries
The UK government has introduced new measures that intend to simplify imports from developing countries. The changes come under the Developing Countries Trading Scheme and, according to a press release, aim to 'lower prices on everyday goods while supporting growth in some of the world's poorest nations'. The measures particularly address imports from countries like Nigeria, Sri Lanka and the Philippines, for which rules of origin have been simplified, allowing goods from such regions to enter the UK tariff-free. Updates also reaffirm the zero tariff policy already in place for countries such as Bangladesh and Cambodia, covering products like garments and electronics. Such changes intend to allow UK consumers to have greater access to "competitively priced imports'. For businesses, meanwhile, the government hopes to encourage the building of resilient supply chains, investments in emerging markets and opportunities in fast-growing economies. UK ministers briefed British business leaders and global ambassadors on the updates at a reception in London on July 10. The updates have been welcomed by executives at notable UK retailers and fashion trade organisations. Both the director of sourcing at Marks & Spencer, Monique Leeuwenburgh, and Primark's interim CEO, Eoin Tonge, backed the changes, expressing support for a scheme that will help each company to maintain relationships with their existing supplier network, they both noted in respective statements. Commenting on the news, the CEO of the UK Fashion & Textile Association (UKFT), Adam Mansell, said: 'UKFT welcomes these additional changes to the Rules of Origin under the DCTS, which will bring real benefits to the fashion industry in the UK and in DCTS countries. The new rules demonstrate a genuine commitment from the government to modernise trade policy to support global economic growth. At a time of such uncertainty in international trade, these reforms are especially welcome.'
Fibre2Fashion
14-07-2025
- Business
- Fibre2Fashion
UK trade reforms to boost Sri Lankan apparel exports, jobs
The UK government recently unveiled a package of reforms to simplify imports from developing countries. New measures include simplifying rules of origin, enabling more goods from countries like Sri Lanka, Nigeria and the Philippines to enter the United Kingdom tariff-free, even when using components from across Asia and Africa. Upgrades to the Developing Countries Trading Scheme (DCTS) make it easier for businesses to trade with the United Kingdom and help lower prices on the UK high street. The UK has unveiled a reforms package to simplify imports from developing nations. New measures include simplifying rules of origin, enabling more goods from countries like Sri Lanka, Nigeria and the Philippines to enter the UK tariff-free, even when using components from across Asia and Africa. For Sri Lanka, the rules of origin for the garments sector specifically will be liberalised. The changes, announced as part of the UK's wider Trade for Development offer, aim at supporting economic growth in partner countries, while helping UK businesses and consumers access high-quality, affordable goods. The announcement builds on the UK's Trade Strategy published last month. 'The most significant positive change for Sri Lanka is that the rules of origin for the garments sector specifically will be liberalised. The changes will ensure that DCTS countries can now source their materials from a wider range of nations and will give manufacturers from countries such as Sri Lanka the opportunity to take advantage of 0-per cent tariffs on garments. These changes are expected to be in place by early 2026,' an official UK government release said. 'This is a win for the Sri Lankan garment sector, and for UK consumers. With the UK being the second largest export market and garments making up over 60 per cent of that trade, we know manufacturers here will welcome this announcement,' British high commissioner to Sri Lanka Andrew Patrick said. 'With the Sri Lankan government's ambition to grow exports, and with the simplification of rules of origin for other sectors too, we strongly encourage more exporters to explore how they can benefit from the preferences offered by the DCTS,' he added. 'We are delighted that, for garments, it will now be possible to source more raw material regionally and continue to qualify for duty free export to the UK. This will be a game-changer for our trade with the UK under the DCTS,' Yohan Lawrence, secretary general of the Joint Apparel Association Forum (JAAF) in Sri Lanka , said. 'We believe that the changes will also deliver significant improvements against the objectives of the Scheme. At around $675 million in value, the UK is the second largest market for Sri Lanka Apparel, accounting for close to 15 per cent of apparel exports, while the industry supports a million livelihoods across the country,' he noted. 'This announcement will help secure employment opportunities and ensure sustainable growth in Sri Lanka by allowing us to compete on equal terms with our major competitors, and we expect exports to increase significantly when the new rules come into effect,' Lawrence added. Launched in 2023, following the United Kingdom's exit from the European Union, DCTS is the UK's flagship trade preference scheme. Covering 65 countries, it offers reduced or zero tariffs on thousands of products. In addition to the DCTS changes, the United Kingdom will continue to provide targeted support to help exporters in Sri Lanka to access the UK market and meet import standards particularly focused on agri-foods and apparel sectors. This is through programmes being delivered by the International Trade Centre (ITC) in partnership with the Sri Lanka Export Development Board. Fibre2Fashion News Desk (DS)
Business Insider
21-06-2025
- Business
- Business Insider
UK backs Nigerian trade goals with 99% duty-free export access
The United Kingdom has reaffirmed that 99% of goods exported from Nigeria will continue to enjoy duty-free access under its Developing Countries Trading Scheme (DCTS), a move seen as vital for Nigeria's non-oil export ambitions and bilateral trade growth. The UK confirmed 99% of Nigerian exports will remain duty-free under the Developing Countries Trading Scheme (DCTS). This scheme benefits Nigerian non-oil products, particularly in agriculture and raw materials, for UK's market access. Nigerian government aligns this opportunity with its Zero-Oil Plan to diversify economic exports and improve infrastructure. The confirmation was made during a courtesy visit by the British High Commissioner to Nigeria, Dr Richard Montgomery, to Nigeria's Minister of Industry, Trade and Investment, Jumoke Oduwole in Abuja. According to both parties, the DCTS remains a crucial pillar of trade relations between the two countries. The scheme, which came into force in June 2023, replaced the UK's Generalized System of Preferences. It aims to boost trade with 65 developing countries by simplifying trading rules and reducing import duties on a wide range of products. Under this arrangement, Nigerian exports especially agricultural products and raw materials will continue to access the UK market without tariffs, provided they meet the origin requirements and other scheme conditions. New trade deal supports Nigeria's efforts to grow non-oil exports Montgomery emphasized that the UK is committed to helping Nigeria fully benefit from the DCTS. He noted that while duty-free access is in place, more needs to be done to support Nigerian exporters in meeting UK market standards, including product quality, packaging, and regulatory compliance. He added that the British High Commission is actively engaging with Nigerian businesses and trade associations to create more awareness and provide technical assistance where needed. On her part, Minister Jumoke Oduwole described the UK's continued support as timely, particularly as Nigeria intensifies efforts to diversify its economy away from crude oil dependence. She reiterated that the DCTS aligns with Nigeria's national goals under the Zero-Oil Plan, which seeks to increase earnings from agriculture, manufacturing, and creative exports. She also revealed that the Federal Government is working closely with stakeholders to scale up export readiness across multiple sectors, including the removal of logistics barriers, improving port infrastructure, and ensuring that exporters are educated on documentation and compliance. With the UK standing as one of Nigeria's top trading partners, the decision to uphold duty-free treatment under the DCTS reinforces Britain's post-Brexit trade approach while providing Nigerian exporters with a stable and preferential gateway into a high-value international market.
