UK pitches new trade network for 65 countries
Published:Friday | June 24, 2022 | 12:13 AM
The British Government is expected to launch a new preferential trade system for 65 developing countries, Prime Minister Boris Johnson announced on Thursday.
The figure includes 18 Commonwealth countries although Johnson only identified Rwanda among the group.
The two countries are currently locked in a deal where the United Kingdom will deport asylum seekers to the African country.
Johnson announced the new trade policy during the closing ceremony of the Commonwealth Business Forum in Kigali.
The policy is expected to take effect on July 6.
Johnson said that the move is an attempt to get rid of “pointless” tariffs that are vexatious and cost more to collect than the revenues derived from them.
“We've done Australia. We've done New Zealand. We're going to do a deal with India by Diwali. We've signed free trade or economic partnership agreements with 33 of our Commonwealth friends, so far, and through the Trans-Pacific Partnership, we're aiming for new deals with Malaysia and Brunei,” he said.
“And what I feel so strongly about the Commonwealth is it's not just about imports and exports – it's about the partnerships we build. It's about doing more together to ensure that everyone prospers from the new green industrial revolution,” Johnson said.