"The scheme saves UK businesses over £770 million per year by removing or cutting tariffs on over £9 billion of imports," the statement said.
According to the statement, the DCTS covers 65 countries with a population of over 3.3 billion, over half of whom are in Africa. It should benefit developing countries that seek to diversify and increase exports, the statement read.
The UK's new trading scheme is going into force on Monday.