-
to become the first UK
Minister to attend Gulf Cooperation Council (GCC) Commerce
Ministers’ summit.
- UK and GCC in talks on a Free Trade Agreement (FTA) which
could increase trade by 16%.
- Huddleston to use summit to discuss the FTA and help further
trading relationship worth over £65 billion.
, UK Minister for
International Trade, is in Oman today [13 September] to hold
talks with top trade ministers from across the Gulf region.
This is the first time a UK Minister has been invited in this
capacity to attend the Gulf Cooperation Council (GCC) Commerce
Ministers’ summit – part of a regular series attended by commerce
ministers from all six GCC countries. The summit comes a year
after the first round of talks on a UK-GCC Free Trade Agreement.
UK Minister for International Trade said:
We already have powerful trade ties with the GCC, and I am
pleased to be able to take this chance to further improve our
relationship.
We want a modern, comprehensive, and ambitious free trade deal
that will promote innovation, encourage investment, and help
develop the industries of the future.
“There’s a great prize on offer here – the potential for what we
can achieve together in the years and decades to come is huge.”
The GCC is one the UK’s most important trading partners, with
trade growing to £65.2 billion in 2022 – an increase of over 75%
in current prices. Previous Government analysis shows that, in
the long run, a deal with the GCC is expected to increase trade
by 16%.
A deal could increase UK businesses’ access to booming markets in
the Gulf and will also make it easier for people across the GCC
to access UK expertise in areas including life sciences,
artificial intelligence and renewables.
During the visit, the Minister will also tour the Port of
Salalah, the biggest port in Oman, ranked the second most
efficient container port in the world in 2021.
Oliver Christian, the government’s new Trade Commissioner for the
Middle East, will join Minister Huddleston for discussions.
Notes for Editors
- The Gulf Cooperation Council comprises Bahrain, Kuwait, Oman,
Qatar, Saudi Arabia, and the United Arab Emirates. The council’s
main headquarters is in Riyadh, the capital of Saudi Arabia.
- Oman holds the rotating Presidency of the GCC this year, and
these summits take place every 3-4 months. The last one took
place in Muscat in May 2023.
- This GCC Trade Ministers’ summit follows Round 4 of UK-GCC
FTA negotiations which took place in July 2023 in London.
