A Free Trade Agreement between the UK and the GCC will be hugely beneficial for both markets. While the removal of tariffs is important, it is the dismantling of non-tariff barriers that present the strongest opportunity. Both the UK and the GCC markets are diversifying and decarbonising their economies, innovating and supporting the developing of new technologies, and investing in skills so that they can deal with present global challenges and work together to seize the opportunities of the future.
The GCC represents the fifth largest market for UK exporters after the EU, US, China and Switzerland. If the negotiations deliver a comprehensive free trade agreement, total trade between the UK and the GCC could rise by an additional £7bn by 2035.
Improved market access and more predictable regulatory practices combined with lower tariffs would benefit UK exporters across a wider range of sectors, including machinery, automotive and food products.
To find out more about the opportunities that these negotiations present, download the full UK-GCC Free Trade Agreement - The UK’s Strategic Approach by clicking on the link below.
