Commons Sense

House of Commons · Written Ministerial Statement

Gulf Cooperation Council Trade Negotiations Update

22 June 2022 · Department for International Trade

Proposed by Anne-Marie Trevelyan Con Berwick-upon-Tweed

Business & Trade

Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • The UK is launching free trade negotiations with the Gulf Cooperation Council (GCC) to enhance economic ties.
  • The negotiations aim to increase trade by at least 16% and add 1.6 billion annually to the UK economy.
  • The initiative is expected to contribute an additional 600 million or more to workers' wages.

Issue summary

The UK is launching free trade negotiations with the Gulf Cooperation Council (GCC) to enhance economic ties and support job creation.

Action requested

Free trade negotiations between the UK and GCC are set to commence over the summer, aiming to increase trade by at least 16%, add £1.6 billion annually to the UK economy, and contribute an additional £600 million or more to workers' wages. The Department for International Trade will provide regular updates throughout the process.

Key facts

  • The Gulf Cooperation Council includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE with a combined population of 54 million people.
  • Total trade between the UK and GCC was worth £33.1 billion in 2021, equivalent to the UK’s seventh largest export market.
  • An FTA is expected to increase trade by at least 16%, add £1.6 billion annually to the UK economy, and contribute an additional £600 million or more to annual UK workers’ wages.
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