The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, announced on Wednesday that the GCC and the UK have reached an agreement emphasizing the importance of completing the rounds of negotiations for a free trade agreement (FTA) between the two parties, aiming to sign the agreement within this year.
This announcement came after Albudaiwi’s meeting with the UK Minister of State for Business and Trade, Jonathan Reynolds, in London, as reported by the Saudi Press Agency (SPA).
Albudaiwi highlighted the strong interest of the new British government and their sincere desire to conclude the FTA negotiations.
The UK Trade Minister expressed the intention to have the agreement signed before the end of 2024.
The meeting also covered several topics of mutual interest, focusing on economic and trade cooperation between the GCC and the UK, and ways to enhance and develop these relations. They reviewed the progress of the FTA negotiations.
Both sides expressed their eagerness to accelerate the pace of negotiations, scheduling regular meetings between senior officials to finalize the chapters of the agreement and sign it within this year.
This effort aims to strengthen the strategic partnership and cooperation between the GCC and the UK.
British Minister of State for Trade Policy Greg Hands previously stated that establishing a free trade area with GCC countries is very important for the UK, highlighting the significance of the Gulf region to Britain.
