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Gulf Cooperation Council Trade Negotiations Update

22 June 2022

Proposing MP
Anne-Marie Trevelyan Con
Berwick-upon-Tweed
Type
Written Ministerial Statement
Department
Department for International Trade
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At a Glance

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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