British eyes Gulf trade pact as UK government’s ‘next deal� after EU Summit
Chancellor Rachel Reeves emphasizes potential for economic growth through deepening trade relations with Gulf Cooperation Council countries
LONDON
UK Chancellor Rachel Reeves has confirmed that the government is nearing completion of a trade agreement with six Gulf nations, including Qatar and Saudi Arabia, describing it as London's "next deal" in a post-Brexit push to strengthen global trade ties.
In an interview with the BBC on Tuesday, Reeves outlined the government's trade priorities, saying recent agreements with the US, the EU, and India, all signed within the last two weeks, have positioned the UK as a global leader in trade partnerships.
“Britain is in a better place than any other country in the world in terms of deals with those countries,” she 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.”
Reeves emphasized the potential for economic growth through deepening trade relations with the Gulf Cooperation Council (GCC) countries.
Talks with the GCC — a bloc that includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates — were originally initiated by the previous Conservative government and have continued under Labour.
The chancellor also clarified the UK's position on China, saying: “We are not looking to have trade negotiations with China.”
In April, Foreign Secretary David Lammy confirmed that the Labour government was maintaining momentum on the Gulf trade discussions, signaling continuity in one of the previous administration’s key international trade initiatives.
