Latest news with #TradingScheme
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)
Jordan Times
03-05-2025
- Business
- Jordan Times
Jordan, Britain talk economic cooperation
Minister of Industry, Trade and Supply Yarub Qudah on Saturday discusses with the British Trade Envoy to Jordan, Kuwait and Palestine, Lord Iain McNicol ways to enhance joint economic and trade cooperation (Petra photo) AMMAN — Minister of Industry, Trade and Supply Yarub Qudah on Saturday discussed with British Trade Envoy to Jordan, Kuwait and Palestine Lord Iain McNicol ways to enhance economic and trade cooperation within the framework of the bilateral partnership agreement signed in 2021. The two sides, in presence of British Ambassador to Jordan Philip Hall, went over progress in implementing the agreement, in terms of streamlining rules of origin and developing the government structure to monitor its provisions by launching a partnership council and its technical committees, the Jordan News Agency, Petra, reported. Qudah noted the need to address challenges related to the "complexities" of the rules of origin and the "high" costs of compliance and export, compared with the facilitations granted by the UK to competing countries under the Developing Countries Trading Scheme (DCTS) programme. Qudah called for reviewing the current terms of the "simplified" rules of origin decision to ensure Jordanian products have "preferential" access to British markets. For his part, McNicol stressed his country's "keenness" to expand economic cooperation with Jordan, underlining his country's support for developing the Kingdom's investment environment and enhancing trade exchange through sustainable initiatives, including support for small and medium-sized enterprises and stimulating British investment in Jordan's "vital" productive sectors. On future action, both sides agreed on the "importance" of accelerating the pace of work to organise the upcoming Jordanian-British Business Forum. The ministry said that the event would serve as a platform to boost partnerships in the two countries' private sectors and explore "new" cooperation opportunities, Petra added. Page 2
Arab News
03-05-2025
- Business
- Arab News
Jordan, UK explore deepening trade ties under partnership agreement
AMMAN: Jordan and the UK have reaffirmed their commitment to strengthening economic and trade cooperation under the framework of their 2021 bilateral partnership agreement, the Jordan News Agency reported. During talks in Amman on Saturday, Minister of Industry, Trade, and Supply Yarub Qudah met with British Trade Envoy to Jordan, Kuwait, and Palestine, Iain McNicol, to discuss progress made under the deal and explore further avenues of collaboration. Philip Hall, the British ambassador to Jordan, also attended the meeting. According to a statement from the Jordanian Ministry of Industry, the discussions touched on efforts to streamline rules of origin and the development of mechanisms to monitor the agreement's implementation; chief among them the launch of a Partnership Council and technical committees. Qudah highlighted several ongoing challenges, including the complexity of the rules of origin, and the comparatively high costs of compliance and export for Jordanian producers. He stressed the need to review the terms of the current agreement to ensure Jordanian products are granted preferential access to UK markets— particularly in light of the United Kingdom's Developing Countries Trading Scheme, which offers more favorable terms to other nations. McNicol affirmed Britain's 'keenness' to deepen trade ties with Jordan and expressed support for improving the Kingdom's investment environment. He also emphasized the UK's commitment to sustainable trade initiatives, including support for small and medium-sized enterprises, and stimulating British investment in Jordan's 'vital' productive sectors. Looking ahead, both sides agreed to accelerate preparations for the upcoming Jordanian-British Business Forum, which they said would provide a key platform to strengthen private-sector ties and explore new areas of economic cooperation.
Ammon
03-05-2025
- Business
- Ammon
Jordan, Britain discuss ways to enhance joint economic cooperation
Ammon News - Minister of Industry, Trade, and Supply, Yarub Qudah, discussed with the British Trade Envoy to Jordan, Kuwait, and Palestine, Lord Iain McNicol, ways to enhance joint economic and trade cooperation within the framework of the bilateral partnership agreement signed in to a ministry statement on Saturday, the two sides, in presence of British Ambassador to Jordan, Philip Hall, went over progress in implementing the agreement, in terms of streamlining rules of origin and developing the government structure to monitor its provisions by launching Partnership Council and its technical noted the need to address challenges related to the complexities of the rules of origin and the high costs of compliance and export, compared to the facilitations granted by the United Kingdom to competing countries under the Developing Countries Trading Scheme (DCTS) called for reviewing the current terms of the simplified rules of origin decision to ensure Jordanian products have "preferential" access to British his part, McNicol affirmed his country's "keenness" to expand economic cooperation with Jordan, underlining his country's support for developing the Kingdom's investment environment and enhancing trade exchange through sustainable initiatives, including support for small and medium-sized enterprises and stimulating British investment in Jordan's "vital" productive future action, both sides agreed on the importance of accelerating the pace of work to organize the upcoming Jordanian-British Business statement said the event would serve as a platform to strengthen bilateral partnerships in the two countries' private sectors and explore "new" cooperation opportunities. Petra
