What the United Kingdom's new Developing Countries Trading Scheme means for least developed countries (LDCs), including countries in the graduation process

Mohammad Abdur Razzaque

CDP Background Papers from United Nations, Department of Economics and Social Affairs

Abstract: The United Kingdom has adopted a new Developing Countries Trading Scheme (DCTS) which comprises three different regimes - one for least developed countries (LDCs), one for non-LDC economically vulnerable low-income and lower-middle-income countries, and one for other low-income and lower-middle-income countries. Compared to the previous scheme, which largely mirrored the European Union's, the DCTS makes it easier for an LDC to accede to the intermediary "Enhanced Preferences" scheme when it graduates. For most countries, graduation from the LDC category will have little impact on trade with the United Kingdom, and less impact than it might have had under the previous regime. Impacts will be greater for countries whose main exports are not covered by Enhanced Preferences, such as certain agricultural products, or whose exporters are unable to comply with the more stringent rules of origin than those applied to LDCs.

JEL-codes: F13 (search for similar items in EconPapers)
Date: 2023-03
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