The new plan that the UK will implement to simplify and increase bilateral trade with developing countries after Brexit has come into effect today.
According to a statement from the British government, the UK will reduce taxes on developing imported products and greatly simplified its trading rules.
The new post-Brexit Trade with Developing Countries (DCTS) Plan, which came into effect today, covers trade with 65 countries where 3.3 billion people live. Under the plan, it is planned to import more products from these countries with simple rules.
Thanks to the reduced or abolished taxes on products, it is predicted that the annual imports of the UK businesses, which reach 9 billion pounds, can be reduced by 770 million pounds, while the decreasing costs are expected to be reflected on the consumers in the UK.
Within the scope of the plan, there are 37 countries from Africa, 26 from Asia and the Middle East and 2 from the Americas, while the UK has imported 22.8 billion pounds from these countries in the last 3 years.