Trade with the Gulf Cooperation Council: The United Kingdom and the Gulf Cooperation Council share a vital trade and investment relationship, with total trade of more than £30 billion in the year ending June 2021, and investment held in each other’s economies amounting to tens of billions of pounds.
The United Kingdom and the Gulf Cooperation Council share a vital trade and investment relationship, with total trade of more than £30 billion in the year ending June 2021, and investment held in each other’s economies amounting to tens of billions of pounds.
The Foreign Ministers welcomed the completion of the United Kingdom – Gulf Cooperation Council Joint Trade and Investment Review in June 2021. This was an important milestone in the roadmap to the creation of freer trade between the UK and the GCC. They welcomed recent progress to boost bilateral trade and facilitating economic cooperation.
All parties reaffirmed their commitment to work rapidly towards a comprehensive Free Trade Agreement (FTA) and noted the UK’s ongoing public consultation. They agreed that an FTA would mark a significant turning point in the UK-GCC relationship, and looked forward to commencing negotiations in 2022.
We want to know:
what you think about our current trading arrangements with the GCC nations
where we could make changes or improvements
The GCC represent the countries Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
We will use this information to help inform our approach for starting negotiations on a free trade agreement (FTA) with the GCC in the future.
All responses should be submitted via the online consultation platform.
For more information on FTAs and context on UK-GCC trade, please see the accompanying information note.
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The Foreign Ministers agreed the UK-GCC relationship will be strengthened across all fields. The UK and the GCC already cooperate closely in a wide range of areas including political dialogue, security, foreign policy, trade and investment, and development, and the Foreign Ministers committed to expand our shared ambition and develop the partnership in emerging areas such as clean technology, digital infrastructure and cyber. This reenergised UK/GCC partnership will help keep UK and GCC citizens safe, and generate business opportunities and jobs.
The UK and GCC member states emphasised the importance of enhancing people-to-people links, which are an essential element in promoting understanding between our peoples, and a key driver of innovation, business opportunities, and cultural and educational exchange. The Foreign Ministers highlighted their belief that this ambitious strategic partnership between the UK and GCC member states is essential in promoting peace, security, stability and economic growth in the Middle East region and beyond.