The United Kingdom has launched a new trade framework program that aims to benefit 65 countries, including Ethiopia, by easing trade regulations and taxes for these countries. The UK International Trade Minister, Nigel Huddleston, announced the new trade plan which is expected to allow developing countries to export a wide range of goods duty-free to the UK in Addis Ababa.

More than half of the 65 developing countries which are projected to benefit from the scheme will be African countries. The UK government believes that the program will not only create wide trade opportunities for the 65 developing countries but also create international trade opportunities for UK businesses and contribute to the country's economic growth.

The trade framework which was announced a year after Ethiopia withdrew from AGOA was considered to be one of the easiest and most versatile trade programs in the world. The UK's new trade framework was announced a year after Ethiopia withdrew from Agowa due to the Tigray conflict.

Ethiopia, which has 838 million pounds of trade with the UK, will not pay any tariffs on its exports to the UK. The new trade agreement allows the countries, including Ethiopia, to benefit more by using inputs from other countries.

Source: BBC Amharic

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