Developing Countries Trading Scheme Overview

As part of the UK’s independent trade policy it has developed its own version of the Generalised Scheme of Preferences (GSP) which we followed as part of the EU, offering zero and reduced tariffs for exports from developing countries. The new scheme, known as the Developing Countries Trading Scheme (DCTS) will be introduced in 2023 to replace GSP. Although similar in many ways to GSP there are some differences in the tariff reductions and some added criteria on the ethical and environmental standards, which are a requirement for countries to benefit from the scheme.

We recently discussed DCTS with the Foreign Office and they have provided a copy of their slides which provide a useful overview of the new scheme.