UK cuts import taxes from world’s poorest countries

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The UK is cutting import links from weaker countries worldwide to boost trade links. The UK was the first part of while a member of the European Union when the developing countries trading scheme came into force in January.

Commodities such as shoes, clothes and foods not widely produced in the UK benefit from lower or zero tariffs.

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This scheme covers 65 developing countries. Developing nations can export thousands of products without any tariffs. This will affect more than 99% of goods imported from Africa.

The aim behind this step was to promote prosperity and eradicate poverty worldwide by using trade and reducing dependency on aid, said The Department for International Trade.

UK businesses are looking forward to lowering costs to encourage firms to import goods from developing countries.

Goods, textiles, fruits and other commodities are already reduced or zero tariffs in more than 65 poorest countries of the world when sold to the UK to make them more appealing.

The new scheme cuts off the charges for the commodities which can not be produced in the specific region due to climatic issues. This scheme simplifies the rules for some items too.

The scheme removes seasonal tariffs on cucumbers. Most countries produce cucumbers this time of the year, so the countries growing cucumbers can enjoy free taxes during this period.

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Mohammed Jabbar, managing director of DBL Group, a textile business from Bangladesh, said this was a “game changer” for his company. In addition, he said that in this way, they would be able to supply cotton to many countries. This will make their business more competitive, successful and irreplaceable.

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