Photo Credit: GCC General Secretariat
Dubai, UAE — May 2026 — The Gulf Cooperation Council and the United Kingdom formally concluded negotiations for a Free Trade Agreement, with senior officials from both sides signing a Joint Statement in London marking the end of years of talks.
Jasem Mohamed Albudaiwi, Secretary General of the GCC, and Chris Bryant, Minister of State for Trade at the UK Department for Business and Trade, signed the Joint Statement in the British capital, cementing what both sides described as a transformative step in GCC-UK economic relations.
Speaking at the signing ceremony, Albudaiwi called the conclusion of negotiations “a qualitative leap” in relations between the two sides. “This step will contribute to cementing the economic pathways of both regions for generations to come,” he said.
The top official emphasized that the achievement was not a product of chance, but rather the fruit of years of tireless effort, firm political will, and an unwavering shared belief between the six GCC member states and the United Kingdom.
The agreement — spanning trade in goods and services, financial services, digital trade, investment protection, government procurement, telecommunications, and the movement of natural persons — is among the most comprehensive trade accords the GCC has ever concluded.
Albudaiwi described it as “a modern trade accord” with “substantial and sector-specific commitments” across each of its pillars, reflecting what he called the maturity and ambition that characterises the economic relationship between the two blocs.
The deal makes the UK the first G7 nation to secure a free trade agreement with the GCC, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
It is projected to add £3.7 billion ($4.97 billion) annually to the UK economy in the long run and £1.9 billion in real wages, while potentially increasing bilateral trade by 19.8 percent.
Once fully implemented, the agreement is expected to eliminate an estimated £580 million in annual duties on UK goods exported to the GCC, with £360 million of that removed on the first day the deal enters into force.
Prime Minister Keir Starmer welcomed the deal as “a huge win for British business, and for working people who will feel the benefits in the years ahead through higher wages and more opportunities,” while Business and Trade Secretary Peter Kyle said the agreement “sends a clear signal of confidence — giving UK exporters the certainty they need to plan ahead.”
Chancellor Rachel Reeves described it as “good for jobs, good for industry and ultimately good for consumers, opening up a world of economic opportunity with a strategically important region.”
