UK, GCC Hold First Round of Negotiations on FTA

GCC Steering Committee for the Smart Card Holds 12th Meeting
GCC Steering Committee for the Smart Card Holds 12th Meeting

The British government announced, in a statement issued on Thursday that the first round of negotiations on a free trade agreement (FTA) between the United Kingdom (UK) and the Gulf Cooperation Council (GCC) for Arab States was held from August 22 to September 29, 2022.

During the negotiations, the two sides discussed FTA's goals and the exchange of technical information in 29 areas through 33 sessions, which witnessed the participation of more than 100 British negotiators representing different sides of the British government.

The British government explained that the FTA represents a major economic opportunity and an important moment in the relations between UK and GCC, stressing that the deal is expected to increase the trade by at least 16 percent, adding 1.6 billion pounds annually to the UK economy.

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