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  • Becky Carter posted in the group Business

    5 months, 3 weeks ago
    The UK has announced plans to cut import taxes on hundreds more products from some of the world’s developing countries, as it seeks to boost trade links.

    The Department for International Trade said the measure was part of a wider push by the UK to use trade to “drive prosperity and help eradicate poverty”, as well as reduce dependency on aid.

    The scheme covers 65 developing countries and will affect around 99% of goods imported from Africa.

    Goods such as clothes, shoes and foods not widely produced in the UK will benefit from lower or zero tariffs.

    However, goods and services from Africa make up just a tiny share of the UK’s imports, accounting for 2.5% of the total goods imported into Britain.

    Only eight nations from sub-Saharan Africa mostly former colonies count the United Kingdom in their top 10 export destinations, including Rwanda, Mauritius, Seychelles, Sierra Leone, Ghana, Mozambique, Kenya and South Africa.

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Becky Carter is a freelance journalist who hangs around for tips at the bustling intersection of startup news, funding, technology, business, and social impact.

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