Today, the Government of Rwanda, through the Ministry of Trade and Industry, and the United Kingdom (UK) Government launched the Developing Countries Trading Scheme (DCTS), offering lower tariffs and simpler rules of origin requirements for exporting to the UK.
The launch aimed at increasing awareness among Rwandan Traders and regulatory agencies, and providing information on the available opportunities once they start trading under the scheme.
Minister of Trade and Industry, Dr. Ngabitsinze Jean Chrisostome, affirmed that the trade relationship between Rwanda and the UK is excellent, but the DCTS will make it better as it will facilitate cumulation of raw materials throughout the African Continental Free Trade Area (AfCFTA) market and broader DCTS countries.
Minister Ngabitsinze urged Rwandan traders to increase production in quality and quantity in order to benefit from the DCTS and pledged the government’s support.
Speaking at the launch, Paul Whittingham, the Head of the UK’s Trade for Development department, said that the scheme will allow the UK to increase its trade with 65 countries, including Rwanda, and boost exports from Rwanda to the UK.
This scheme will make it easier for Rwandan Exporters to expand the goods they export to the UK. This is beneficial for exporters here in Rwanda; it is also good for consumers and businesses in the UK, who will have cheaper imports of excellent Rwandan products, Paul said.
DCTS covers 37 countries in Africa, 26 in Asia/Oceania/Middle East and 2 in the Americas, representing varied and exciting trade opportunities around the world. (End)