GCC and Britain likely to sign free trade deal soon

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THERE is an agreement between the GCC and the United Kingdom emphasising the importance of progressing towards finalising negotiations for a free-trade agreement (FTA), and the goal is to sign the agreement this year, said Gulf Co-operation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi.

The GCC chief’s remarks came after his meeting on Thursday in London with the UK Secretary of State for Business and Trade Jonathan Reynolds, reported SPA.

Albudaiwi indicated that he sensed a strong interest from the new British government and a sincere desire to complete the negotiation rounds for the FTA.

Reynolds too expressed the desire to have the agreement signed before the end of 2024, stated the report.

During the meeting, Albudaiwi and Reynolds discussed various topics of mutual interest, focusing on economic and trade relations between the GCC and the UK, and ways to enhance and develop them.

Both sides aspired to accelerate the pace of FTA negotiations and hold regular meetings between senior officials to finalise its chapters and sign it during the current year, reported SPA.

This is seen as a step to enhance co-operation and the strategic partnership between the GCC and the UK, it added.