UK Opens Consultation for Developing Countries Trading Scheme

The United Kingdom opened a consultation period for interested parties to help shape new trading rules for developing countries, the Department for International Trade said in a July 19 news release. The proposed Developing Countries Trading Scheme would apply to 70 countries and includes lowering tariffs and simplifying rules of origin requirements for exports to the U.K., it said. The new scheme would look to take a “simpler, more generous, pro-growth approach to trading with developing countries,” the release said. The consultation period for the new rules will run for eight weeks.