UK, GCC launch ambitious trade negotiations – The Peninsula

UK, GCC launch ambitious trade negotiations – The Peninsula

Doha: UK Trade Secretary Anne-Marie Trevelyan and officials from the Gulf Cooperation Council (GCC), made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE, yesterday launched the free trade negotiations covering £33.1bn of trade, said a press statement from the British embassy in Qatar,

The GCC is equivalent to the UK’s seventh largest export market, and total trade was worth £33.1bn in 2021. Only the US and China buy more UK goods and services.

The UK is also the GCC’s third largest export market, so a trade deal is set to benefit exporters from the UK and across the GCC.

In a visit to Riyadh, the Trade Secretary will meet GCC Secretary General Dr Nayef Falah M Al Hajraf to launch talks covering the £33.1bn of trade.

The launch of these negotiations marks a key moment in the strengthening of the UK's relationships with the GCC and see significant and wide ranging benefits to citizens of all seven nations involved.

Trade Secretary Trevelyan said: “Today marks the next significant milestone in our 5-star year of trade as we step up the UK’s close relationship with the Gulf. Our current trading relationship was worth £33.1bn in the last year alone. From our fantastic British