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UK has come out with The Developing Countries Trading Scheme (DCTS) UK has come out with The Developing Countries Trading Scheme (DCTS)
UK has come out with The Developing Countries Trading Scheme (DCTS) entered into force on 19 June 2023 and replaced the UK’s Generalised Scheme of Preferences (GSP). The DCTS is a simpler and more generous preferential trading scheme which has been designed to boost trade with developing countries in order to support their development. The DCTS cuts tariffs, removes conditions and simplifies trading rules for developing countries and benefits UK businesses and consumers by reducing the import cost of thousands of products from around the globe.
The DCTS applies to 65 countries that fall under one of the following categories:
- least developed countries (LDCs) as defined by the United Nations
- low income and lower middle-income countries as defined by the World Bank
A list of eligible countries can be found in our preference tiers guidance.
The full DCTS legislation was published on 22 May 2023 including: