UK officials have announced its readiness to cut tariffs on products from Nigeria and other developing countries. According to a statement released on Monday by the British High Commission in Abuja, the step was to restore trading rules, save businesses and consumers millions of pounds each year. This came following the country’s new post-Brexit Developing Countries Trading Scheme, covering not less than 60 nations and commencing action today.
The minister of International Trade, Nigel Huddleston unveiled the scheme while on a visit to Ethiopia. The scheme removes or reduces tariffs and simplifies trading rules so that more products qualify for the scheme, making it more generous than the EU scheme the UK was previously a member of.
Source: independent.ng