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UK strikes £3.7bn trade deal with six Gulf states
TL;DR
The UK has finalized a £3.7bn trade deal with six Gulf states, boosting opportunities for exporters, particularly in food and luxury cars. However, the deal has faced criticism for lacking human rights provisions.
Key points
- UK strikes £3.7bn trade deal with six Gulf states
- Deal boosts opportunities for exporters, especially in food and luxury cars
- Criticism for lack of human rights provisions in the agreement
- Negotiations lasted four years under four different prime ministers
Mentioned in this story
Trade Justice MovementKeir Starmer
Keir Starmer has struck a trade deal with six Gulf states in what he described as a “huge win” for British business, ending four years of talks led by four different prime ministers.
The deal will offer £3.7bn worth of opportunities for exporters – double original estimates – particularly in the food and luxury car sectors but also defence, aerospace, hospitality and other services, the government said.
It also provides the prime minister with a much-needed political window to show that the government is still capable of performing and concluding deals despite the turmoil and possible challenge to his leadership in the wake of the UK’s local elections.
But Starmer faced immediate criticism the deal did not include a chapter on human rights despite complaints of a “values free” deal a year ago.
Tom Wills, the director of the Trade Justice Movement, said the omission was “especially alarming given the severe human rights abuses across the Gulf region, including torture, forced labour, discrimination and the silencing of dissent”.
It is understood the government did not seek a human rights chapter as it views political channels as the best place to raise these issues.
The National Farmers Union said it was the best agricultural deal since the UK left the EU, after it was able to see off demands to lower poultry standards.
The British Chambers of Commerce (BCC) said it would create new business for firms in financial services, energy, construction, professional services, education, hospitality and technology.
William Bain, the head of trade policy at the BCC, said the deal offered great potential to expand trade in the region and would be “vital for tens of thousands of UK firms”.
It is the third trade deal concluded by Starmer following pacts with India and South Korea and will see tariffs removed from 93% of British goods sold in the six countries in the Gulf Cooperation Council (GCC) trading bloc of Saudi Arabia, Kuwait, Oman, Qatar, United Arab Emirates and Bahrain.
Q&A
What is the value of the UK trade deal with the Gulf states?
The trade deal is valued at £3.7bn, offering significant opportunities for British exporters.
Which sectors will benefit from the UK-Gulf trade deal?
The deal will particularly benefit the food, luxury car, defence, aerospace, hospitality, and other services sectors.
Why is the UK trade deal with Gulf states controversial?
The deal is controversial due to its lack of human rights provisions, raising concerns about severe abuses in the Gulf region.
How long did the negotiations for the UK-Gulf trade deal take?
Negotiations for the trade deal lasted four years and involved four different prime ministers.
