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Trade Update: Canada and Gulf Cooperation Council

20 December 2022

Proposing MP
Kemi Badenoch Con
North West Essex
Type
Written Ministerial Statement
Department
Department for International Trade
View on Parliament.uk -->

At a Glance

Issue Summary

The statement updates Parliament on the progress of UK's trade negotiations with Canada and the Gulf Cooperation Council (GCC).

Action Requested

No specific action is requested; the minister provides details on completed negotiation rounds, future plans for fifth round talks with Canada in March 2023, and third round talks with GCC in Riyadh next year.

Key Facts

  • The fourth round of UK-Canada FTA negotiations concluded on December 2 with progress made in several policy areas.
  • An initial chapter agreement was reached on Transparency.
  • The second round of UK-GCC FTA negotiations took place from December 5 to 9, involving over 100 GCC officials and more than 100 UK negotiators.
  • Government analysis shows an FTA with the GCC could increase trade by at least 16%, add £1.6 billion a year to the UK economy, and contribute an additional £600 million or more to workers' annual wages.
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