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The UK Trade Secretary launches free trade negotiations between the UK and the Gulf Cooperation Council.
Trade Secretary Anne-Marie Trevelyan launched free trade negotiations on Wednesday 22 June between the UK and the Gulf Cooperation Council (GCC), consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.
The GCC bloc represents the UK’s seventh largest export market.
Government analysis shows that a deal with the GCC is expected to increase trade by at least 16%, adding at least £1.6 billion a year to the UK economy
A focus of the trade deal is to increase UK export scope into the bloc’s anticipated increase in demand for international products and services. The increase is estimated to rise to £800 billion (a rise of 35%) by 2035.
Further details can be found at the link below:
https://www.gov.uk/government/news/uk-launches-ambitious-trade-deal-with-gulf-nations
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