UK ministers visit Riyadh to discuss Gulf trade deals

Talks will take place in Saudi capital aimed at boosting commerce with the bloc

Containers on the quayside at Abu Dhabi's Khalifa Port. UK ministers will meet Gulf officials in Riyadh to finalise trade deals. Reuters

UK trade ministers were on Sunday meeting trade ministers from the Gulf Co-operation Council in Saudi Arabia as part of efforts to secure a trade deal with the bloc.

Jonathan Reynolds, Business and Trade Secretary, and Douglas Alexander, Trade Policy Minister, will meet GCC leaders in Riyadh to discuss how to boost Britain’s trade with the region.

After a pause for the UK's general election, Britain's Labour government has said it is eager to resume talks towards securing a free-trade agreement with GCC and other countries.

The UK’s trade relationship with the group is already worth £57 billion ($74.8 billion).

UK government analysis has found that a free-trade agreement between the UK and the GCC would be expected to increase trade by at least 16 per cent and add at least £1.6 billion a year to the British economy.

Mr Reynolds said “boosting trade and investment with some of the world’s biggest economies” is crucial to the Labour government's drive for economic growth.

“I want to see a high-quality trade deal that supports jobs, helps UK companies sell their products to the region and increases choice for consumers – so it’s great to be here to discuss exactly that,” he added.

A third round of talks towards an agreement was completed in March in Riyadh. The departing British Trade Commissioner to the Middle East and Pakistan, Simon Penney, earlier this year told The National a free-trade agreement between the six GCC countries and the UK was moving closer.

While talks continue, some Gulf states are forging ahead with separate trade arrangements.

Since 2021, the UAE has pursued several trade, investment and co-operation deals on its own – called Comprehensive Economic Partnership Agreements (Cepas).

The UAE has Cepas with, among others, Turkey, Indonesia, Israel and India, which combined are expected to grow its exports by more than £100 billion over the next decade.