Britain and GCC free trade negotiations to continue
Free trade negotiations continue between the UK and the Gulf Co-operation Council (GCC), made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. This was highlighted by Industry and Commerce Minister Abdulla bin Adel Fakhro at a luncheon hosted by the Bahrain-British Business Forum recently. The minister said the FTA will open broader areas of economic relations to support access to a rapidly growing market, abundant natural resources, investment opportunities, and qualitative opportunities. He stressed the depth of historical ties between Bahrain and the UK, reflected in the rapid growth of trade between the two countries in various sectors, in addition to the co-operation agreements and MoUs signed to enhance trade relations and increase the volume of mutual investments. Business analysts believe a UK-GCC FTA would be a good opportunity for businesses to export goods and services, particularly in the agrifood, green tech, renewable goods, and financial services sectors. Lord Dominic Johnson, UK Minister of State in the Department for Business and Trade, Alistair Long, British Ambassador-designate, and Khalid Al Zayani, forum chairman among others were also present.