UK agrees 3.7bn trade deal with six Gulf states
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UK agrees 3.7bn trade deal with six Gulf states
The UK has agreed a trade deal with six Gulf states that is expected to be worth £3.7bn to the economy. The deal is intended to remove an estimated £580m per year in tariffs from British exports to the region once fully implemented. It is also designed to make it easier for British firms to expand and partner in the Gulf, supporting jobs. British exports expected to benefit include cheddar cheese, butter, and chocolate. The agreement is the third trade deal under Prime Minister Keir Starmer’s government, following deals with India and South Korea, and it is the first trade deal between a G7 country and the GCC. Rights groups have criticised the lack of detail on human rights and labour protections, and raised concerns about risks to climate action.
"The government said the deal with Oman, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE) will remove an estimated 580m a year in tariffs from British exports to the region once fully implemented. It also said it will make it easier for British firms to expand and partner in the Gulf, which will support jobs. However, rights groups have criticised the lack of detail on human rights and labour protections in the deal."
"Starmer said the deal was "a huge win" for British workers and businesses. Working people "will feel the benefits in the years ahead through higher wages and more opportunities". Business and Trade Secretary Peter Kyle said: "At a time of increased instability, today's announcement sends a clear signal of confidence giving UK exporters the certainty they need to plan ahead.""
"Chancellor Rachel Reeves said the agreement was "proof we are backing British firms to compete and win globally". "This agreement is good for jobs, good for industry and ultimately good for consumers." However, rights group Trade Justice Movement has said the deal "poses serious risks to human rights, labour protections, and climate action". It raised concerns about the GCC's record of restri"
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