The British Minister of International Trade, Nigel Haddleston, confirmed on Friday that the UK boasts robust trade relations with the Gulf Cooperation Council (GCC) countries.
Speaking via an official government website, Haddleston stated, “We already have strong trade ties with the GCC countries, and I am delighted to seize this opportunity to further strengthen our bond.”
Haddleston has been visiting Oman since last Wednesday to conduct talks with senior trade ministers from across the Gulf region.
He expressed the UK’s aspirations by noting, “We aim for a modern, comprehensive, and ambitious free trade agreement that will foster innovation, encourage investment, and aid in the development of future industries.”
Significantly, this marks the first instance a British minister of this stature has been invited to attend a GCC trade ministers’ summit. The summit, part of a regular series, sees attendance from trade ministers of all GCC member countries.
The summit follows a year after the inaugural round of discussions concerning a free trade agreement between the UK and the GCC.
According to the UK government’s official site, the GCC nations are among the UK’s most pivotal trading partners.
Trade grew to £65.2 billion in 2022, marking a surge of over 75% at current prices. Government analysis suggests that in the long run, finalizing an agreement with the GCC countries is projected to boost trade by an impressive 16%.
