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
The United States has warned it fears a "rapid escalation" of hostilities in the Middle East, following Houthi attacks on Saudi Arabia that struck the kingdom's capital for the first time in months.
The Saudi-led military coalition announced Sunday that it had intercepted a missile fired by Yemen's Houthi rebels toward Riyadh, where explosions were heard at dawn, the first such incident since hostilities resumed between the kingdom and the Iran-backed fighters.
Turkish Foreign Minister Hakan Fidan said on Saturday that Saudi Arabia may have military needs due to the ongoing attacks by Yemen's Houthis and that Turkey was ready to help under a trilateral defence pact that also includes Pakistan.
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