Developing Countries Trading Scheme
The question
To ask the Secretary of State for Business and Trade, how the Department intends to measure the economic impact of the Developing Countries Trading Scheme on UK importers.
Answered by Mr Douglas Alexander
The Department has not undertaken a further economic impact assessment following the launch of the DCTS. The Scheme provides UK businesses with the opportunity to diversify supply chains and reduce import costs by sourcing from DCTS countries, which benefit from duty-free access on an average of 94% of goods exported to the UK. We routinely monitor trade flows and utilisation of the Scheme, which shows that over £16 billion in UK imports has benefitted from tariff savings since the DCTS launched in June 2023. We also welcome feedback from businesses and beneficiaries on the operation of the Scheme.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →