Regulation 11 Amendment of the Trade Preference Scheme (Developing Countries Trading Scheme) Regulations 2023

The Trade Preference Scheme (Developing Countries Trading Scheme) Regulations 2023^f1 are amended as follows.

In regulation 9, for paragraph (2), substitute—

“(2)

A country is an “economically vulnerable country” for the purposes of this regulation if paragraph (3) applies to that country.

(3)

This paragraph applies to a country if, as a mean average over the most recent import review period, either—

(a)

the seven largest DCTS sections of its imports of EP goods by value into the British Islands (disregarding EP goods in respect of which the standard rate of import duty is a nil rate) represented more than 75% in value of its total imports of EP goods into the British Islands, or

(b)

its share of global goods exports by value is less than 0.85%.”.

In Schedule 1, in Part 1, in the appropriate place, insert “Vanuatu”.