Riyadh, Saudi Arabia–The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the ongoing negotiations over a GCC-UK free-trade agreement.
The call was made by the organization’s secretary general Jassem Mohamed Albudaiwi during a meeting with Kemi Badenoch, UK business secretary in Riyadh today.
Commenting on the meeting, Albudaiwi confirmed that several common issues were discussed, including the latest developments in the progress of the negotiations of the free-trade agreement between the GCC and the UK, which were launched in light of the joint statement signed on June 22, 2022.
He also stated that they had reviewed joint preparations for holding the fourth round of negotiations, which will be hosted by the British capital, London, in July 2023.
The 3rd round of the free trade agreement negotiations between the Gulf Cooperation Council (GCC) for Arab States and the United Kingdom concluded in March this year at the headquarters of the GCC General Secretariat in Riyadh.
The GCC side was headed by the Acting Chairman of the GCC’s Negotiating team, Fareed Saeed Al-Asali.
The two sides sought to strengthen and develop their trade and investment relationship in the sectors of goods and services, and digital trade.
They also hope to encourage investment and support the small and medium-sized enterprise (SME) sector.
