Gulf Cooperation Council (GCC) and the United Kingdom (UK) are progressing towards finalising the negotiations for a free-trade deal, GCC Secretary-General Jasem Mohamed Albudaiwi has said, according to the Saudi News Agency.
The two countries have agreed to complete the agreement this year, Albudaiwi added.
The statement followed a meeting in London with the new UK Secretary of State for Business and Trade Jonathan Reynolds, shortly after the UK general election, which gave the Labour Party a majority in Parliament for the first time in 14 years.
Albudaiwi said he sensed a strong interest from the new British government and a sincere desire to complete the negotiation rounds for the FTA before the end of 2024.
During the meeting, Albudaiwi and Reynolds discussed the economic and trade relations between the GCC and the UK and ways to enhance and develop them, the agency said.
