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Thursday, June 1, 2023
WorldEuropeMinister: Britain aims to increase trade relations with the Gulf

Minister: Britain aims to increase trade relations with the Gulf


Badenuk said in an exclusive interview with ‘Sky News Arabia’ that his visit to the region is part of Britain’s negotiations with the Gulf to reach a free trade agreement.

She added that the UK is looking to increase trade and investment relations with the Gulf region, noting that the current volume of trade between the two sides has reached £61 billion.

She explained that the UK hopes to increase the volume of trade and investment with the Gulf region to £1 trillion by 2050.

Great Britain has been working, since its exit from the European Union in 2016, in what has been called “Brexit”, in search of new economic partners, with particular priority given to the countries of the Gulf region.

The UK minister told ‘Sky News Arabia’ that UK investment in the Gulf region exceeds £135 billion, and the UK is keen to boost that investment.

She pointed out that Britain was also seeking to provide an attractive investment environment for businesses in the Gulf region, allowing for an increase in Gulf investment in the country.

Badenuk added that Britain also wanted to participate in the COP 28 conference, which will be held in the United Arab Emirates this year, and that this was an important opportunity for cooperation to support climate action and achieve the carbon neutrality.

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Arab Desk
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