Trade Secretary Anne-Marie Trevelyan continues her ongoing international engagement and has just launched free trade negotiations (22 June) between the UK and the Gulf Cooperation Council (GCC), made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.
Equivalent to the UK’s seventh largest export market, the GCC bloc’s demand for international products and services is expected to grow rapidly to £800 billion by 2035, a 35% increase – opening huge new opportunities for UK businesses.
A free trade deal would also open the door to increased investment from the Gulf, supporting and creating jobs across the country.
It is the fourth major set of Free Trade Agreement negotiations launched by the Trade Secretary this year, following visits to begin talks in India in January, Canada in March and the launch of negotiations with Mexico last month.
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Paul Browne Head of International Trade at Burges Salmon commented "This is another example of the UK taking pro-active measures to create opportunities within the UK and grow our economy in a variety of sectors, not only by progressing trade deals but also via the DIT's enthusiasm in promoting foreign direct investment into the UK".