The British High Commissioner to Nigeria, Richard Montgomery, has said that the United Kingdom is eager to tap the full potential of the Developing Countries Trading Scheme to boost bilateral trade.
A statement from the British High Commission, Abuja, on Monday quoted Montgomery as saying, “As an independent trading nation, the UK is one of the foremost champions of free, fair, and inclusive trade. The UK’s Developing Countries Trading Scheme harnesses the power of trade to support Nigeria and other emerging economies’ ambition to grow and will boost Nigeria’s non-oil exports.”
“As the UK Government, we’re keen to maximise uptake of the DCTS. In this respect, I’m happy that the recently signed Enhanced Trade and Investment Partnership will help address underlying export challenges in more detail and thus improve exports and the economic and social well-being of both our nations.” UK introduced DCTS in June 2023 to promote sustainable growth in developing countries by using a more generous trade preferences scheme than with other trade partners.
