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Arab News, Saturday, Oct 9, 2021 | Rabi Al-Awwal 3, 1443

Britain looks to Gulf countries for new trade deal

Saudi Arabia: Britain will on Friday take its first step toward trade negotiations with the six-country Gulf Cooperation Council (GCC), asking British businesses what they want an agreement to cover.

Trade minister Anne-Marie Trevelyan is targeting a deal with the GCC — Saudi Arabia, the United Arab Emirates, Oman, Qatar, Kuwait and Bahrain — as she looks to build new ties around the world following Britain’s exit from the European Union.


On Friday, Trevelyan will launch a 14-week consultation, calling on the public and businesses to share their views on what a deal should look like. She will also meet representatives of the GCC in London.


“We want a modern, comprehensive agreement that breaks down trade barriers to a huge food and drink market and in areas like digital trade and renewable energy which will deliver well-paid jobs in all parts of the UK,” she said in a statement.


A deal would be an advance on the relations Britain had as an EU member: The EU meets the GCC annually to build economic cooperation and develop closer trade and investment ties, but 18-year negotiations over a trade deal stalled in 2008.


The GCC has not implemented a free trade deal since 2015 and Britain did not set out a timetable for negotiations.


Britain already has close strategic and military ties with the gulf countries, and trade with the region was worth more than 30 billion pounds in 2020.

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