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The agreement covers Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Officials estimate it will remove £580 million in annual tariffs on British exports once fully implemented.
The UK has reached a trade agreement with six Gulf states that officials say will be worth £3.7 billion to the economy. The deal covers Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Officials said it will remove an estimated £580 million a year in tariffs on British exports once fully implemented.
British products that will benefit include cheddar cheese, butter and chocolate. Officials said the agreement will also make it easier for British firms to expand and partner in the region. The agreement is the third trade deal reached by the current government, following earlier pacts with India and South Korea. It is the first such agreement between a G7 country and the six-state group.
groups have criticised the lack of detail on human rights and labour protections. One group said the deal locks the UK into deeper commercial ties with some of the most repressive governments in the world. Officials described the agreement as a signal of confidence for exporters at a time of increased instability.
They said it would support jobs and provide certainty for British businesses planning ahead.
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yna.co.krU.S. Central Command targeted Iranian command centers, air-defense sites and other facilities. Iran said it received mediation proposals while holding firm on Strait of Hormuz rights. Oil prices eased and U.S. equity futures rose in early trading.
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