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GCC, UK Agree to Proceed with Free Trade Agreement This Year, Albudaiwi Says


London, Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi said there is an agreement between the GCC and the United Kingdom (UK) emphasizing the importance of progressing towards finalizing negotiations for a free-trade agreement (FTA), and the goal is to sign the agreement this year.

The GCC chief’s remarks came after his meeting today in London with the UK Secretary of State for Business and Trade Jonathan Reynolds. Albudaiwi indicated that he sensed a strong interest from the new British government and a sincere desire to complete the negotiation rounds for the FTA. Reynolds expressed the desire to have the agreement signed before the end of 2024.

During the meeting, Albudaiwi and Reynolds discussed various topics of mutual interest, focusing on economic and trade relations between the GCC and the UK, and ways to enhance and develop them. Both sides aspired to accelerate the pace of FTA negotiations and hold regular meetings between senior officials to finalize its chapters and sig
n it during the current year. This is seen as a step to enhance cooperation and the strategic partnership between the GCC and the UK.

Source: Saudi Press Agency