UK government introduces new trade measures for developing countries
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.'
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