STORY
The UK has agreed a trade deal with the Gulf Cooperation Council which ministers say will be worth £3.7 billion a year to the economy in the long term. The agreement covers Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, making the UK the first G7 country to agree a trade deal with the bloc.
The Government said the deal would remove tariffs on food exports, medical equipment and advanced manufacturing, while also including commitments on the free flow of data. Reuters reported that the agreement would remove 93% of GCC tariffs on British goods, with cars, aerospace, electronics and food and drink among the sectors expected to benefit.
Trade Secretary Peter Kyle said the agreement would give exporters greater certainty at a time of regional instability. Campaign groups have criticised the absence of enforceable human rights provisions and raised concerns about investor protection arrangements, but ministers said the deal would not weaken UK environmental or data protection standards.