UK nears major trade deal with Gulf countries

Chancellor Rachel Reeves says the UK is close to securing a trade agreement with six Gulf countries, including Qatar and Saudi Arabia, as part of its post-Brexit drive to expand global trade ties.

The United Kingdom is nearing completion of a major trade agreement with six Gulf Cooperation Council (GCC) countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - Chancellor Rachel Reeves confirmed in an interview with the BBC on Tuesday.

Describing the pact as London’s “next deal,” Reeves highlighted the UK’s intensified global trade efforts following Brexit. She pointed to the recent signing of trade agreements with the United States, the European Union, and India, all within the last two weeks, as evidence of the UK’s strengthened global position.

“Britain is in a better place than any other country in the world in terms of deals with those countries,” Reeves said. “The first deal and the best deal so far with the US, we’ve got the best deal with the EU for any country outside the EU, and we’ve got the best trade agreement with India.”

She emphasized the economic opportunities that stronger ties with the Gulf region could bring, particularly in sectors such as energy, infrastructure, and finance.

Negotiations with the GCC were launched under the previous Conservative government and have continued under Labour. The deal is seen as a key step in enhancing the UK's presence in the Middle East and diversifying its trade portfolio.

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