UK Secures £3.7 Billion Gulf Trade Deal, Cutting £580 Million in Export Tariffs
Updated
Updated · BBC.com · May 20
UK Secures £3.7 Billion Gulf Trade Deal, Cutting £580 Million in Export Tariffs
6 articles · Updated · BBC.com · May 20
£3.7 billion is the UK government’s estimate of the economic boost from its new trade pact with the six-member Gulf Cooperation Council, its third agreement under Keir Starmer.
£580 million in annual tariffs on British exports would be removed once the deal is fully implemented, with products such as cheddar cheese, butter and chocolate among those benefiting.
The agreement is the first between the GCC and a G7 country, and ministers said it should help British firms expand partnerships in the Gulf and support jobs at home.
Rights group Trade Justice Movement criticized the pact for lacking detail on human rights, labour protections and climate commitments, while Conservatives cast it as a Brexit dividend Labour could squander.
Is the UK's new Gulf trade deal a lifeline for its economy or a dangerous gamble on a region at war?
Does this pact embrace the Gulf's AI-driven future or just double down on its volatile oil economy?