London (HRNW) – Britain has signed a £3.7 billion trade agreement with a group of six Gulf states, marking a significant expansion of economic cooperation between the United Kingdom and the Gulf region.
According to media reports, the agreement includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Once fully implemented, the deal is expected to remove around £580 million in annual tariffs on British exports to the Gulf region.
The UK government said the agreement will make it easier for British companies to expand operations and form partnerships in Gulf markets, which is expected to create new job opportunities.
Products such as cheddar cheese, butter, and chocolate will benefit from tariff removal under the deal. This agreement between the UK and the Gulf Cooperation Council (GCC) is the third major trade deal under Prime Minister Keir Starmer’s government, following similar agreements with India and South Korea.
Chris Southworth, Secretary General of the International Chamber of Commerce (ICC UK), welcomed the deal, saying it would help boost business confidence and trade growth.
However, some activist groups have raised concerns over human rights and labor protections in the agreement.
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