Britain's new trade ministers visited the Gulf region on Monday in a first joint visit for talks on a possible trade deal, the government said.
Jonathan Reynolds © Gov.uk
Britain's new trade ministers visited the Gulf region on Monday in a first joint visit for talks on a possible trade deal, the government said.
Trade secretary Jonathan Reynolds and minister for trade policy Douglas Alexander will meet their counterparts from the Gulf Cooperation Council, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
Trade has been a weak point in Britain's economy in recent years - with business groups pointing to Brexit as one cause.
The government, elected after a landslide win for Prime Minister Keir Starmer's Labour Party in July, is also targeting trade deals with India, Switzerland and South Korea as part of its plan to boost 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," Reynolds said in a statement.
Britain's Business and Trade Department estimates a free trade deal with the Gulf Cooperation Council could boost the UK economy by 1.6 billion pounds ($2.10 billion) over the long run.
Out of the Group of Seven advanced economies, Britain ranks bottom for growth in goods and services exports since 2019, even when accounting for the country's large precious metals trade, according to national accounts data.
Reporting by Andy Bruce
Israel said on Monday it hit a petrochemical plant in Iran's southwest, along with strikes elsewhere on military targets, after U.S. President Donald Trump reportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks.
Iran's Islamic Revolutionary Guard Corps launched a ballistic missile attack on northern Israel on Sunday evening, in what it described as a "warning" of a far broader response to come if Israeli and American "aggressions" continue.
The stakes in the confrontation with Iran extend far beyond the Middle East. If Tehran emerges from this crisis looking stronger, the damage will not be confined to Israel or the Gulf.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.