Free Trade Agreement negotiations between the UK and GCC

The UK and the Gulf Cooperation Council have issued a joint statement on 22 June 2022, about the launch of Free Trade Agreement (FTA) negotiations between the UK and the Gulf Cooperation Council:

Today we are pleased to announce the launch of Free Trade Agreement (FTA) negotiations between the UK and the Gulf Cooperation Council (UK-GCC FTA). Building upon close ties between the two sides, the UK-GCC FTA is expected to further strengthen bilateral economic relations and our strategic partnership.

We acknowledge that it is now more important than ever to support an open trading environment based on global trading rules that underpin mutual growth and prosperity.

The FTA will be an ambitious, comprehensive and modern agreement fit for the 21st century. It will contribute to economic growth and job creation by promoting trade in goods and services, as well as innovative new fields and emerging technologies in a mutually beneficial manner.

The Rt Hon Anne-Marie Trevelyan, Secretary of State for International Trade of the United Kingdom, and H.E. Dr. Nayef Falah M. Al-Hajraf, Secretary General of the Gulf Cooperation Council, have reached the following understanding:

The United Kingdom of Great Britain and Northern Ireland and the Gulf Cooperation Council officially announce the launch of the UK-GCC FTA negotiations, and will endeavour to launch the first round of negotiations in summer 2022.

The UK’s objectives in trade negotiations with the Gulf Cooperation Council (GCC).

Details

This document explains the UK government’s:

• strategic rationale for pursuing a free trade agreement with the GCC

• negotiating objectives for a free trade agreement between the UK and the GCC

• response to consultation on a trade agreement between the UK and the GCC, including how the consultation informed the UK’s negotiating objectives

• initial assessment of the potential long-term impacts of a trade agreement between the UK and the GCC