The United Kingdom has announced that over 3,000 Nigerian products, including cocoa and cashew, can now enter the UK market either duty-free or at reduced tariffs.
The Country Director for the UK Department for Business and Trade, Mark Smithson, announced this, which is part of the UK’s Developing Countries Trading Scheme (DCTS), in a recent video released by the UK in Nigeria.
“Up to 3,000 products from Nigeria qualify for low tariff or no tariff access to the UK through the Developing Countries Scheme, one of the most generous trading schemes in the world,” Smithson said.
He further noted that the UK has simplified the process for Nigerian exporters by making it easier to trade a variety of goods, including cocoa and textiles, among others.
Smithson encouraged Nigerian exporters to take advantage of the opportunity.
“The UK is open and looking to do business with Nigeria. So why don’t you go to the website and find out more about the Developing Countries Trading Scheme and begin to trade with us?”
The DCTS, which was introduced in 2023, replaced the UK’s previous Generalised Scheme of Preferences. It is designed to cut tariffs and simplify trading rules for over 60 developing countries, including Nigeria.