Gulf Insider
The United Kingdom and the Gulf Cooperation Council have concluded negotiations on a major Free Trade Agreement aimed at strengthening trade, investment and economic cooperation between Britain and Gulf states, including Saudi Arabia. The agreement marks the first trade deal between the GCC and a G7 country and is expected to create significant opportunities for businesses, investors and service providers across both regions. The deal covers all six GCC member states — Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar — and is designed to support open trade, economic growth and long-term investment partnerships. Trade in goods and services between Saudi Arabia and the UK currently stands at £13.8 billion ($18.5 billion), while the agreement is projected to increase overall UK-GCC bilateral trade by nearly 20%, adding an estimated £15.5 billion annually. The agreement also comes amid heightened geopolitical tensions in the Gulf following the conflict involving Iran, with Britain highlighting its close coordination with Gulf partners on regional security and long-term stability. According to the announcement, the agreement will provide greater certainty for Saudi investors and reinforce Britain’s position as a major destination for Gulf investment. Saudi investors including Public Investment Fund, Alfanar and Aramco Ventures are already […]
Go to News Site