UK Business and Trade Secretary Kemi Badenoch on Gulf states tour

The UK’s Business and Trade Secretary Kemi Badenoch kicked off her trip to the GCC with her first stop in Qatar.

Badenoch will also be visiting Saudi Arabia and the UAE this week as well in a bid to encourage GCC ministers to advance the UK’s ambitions for a modern, comprehensive trade deal, according to the UK Embassy in the UAE.

She will also meet the new Secretary General of the GCC Jasem Al-Budaiwi.

Badenoch shared a tweet about her time in Qatar.

Thoroughly enjoyable two days in Qatar meeting @alamayassahamad, @QCBQATAR and @MOCIQatar, among many others, and speaking at @QatarEconForum.

Lots of support for a UK-Gulf Cooperation Council deal that could add £££ to a trading relationship already worth over £60bn ???? pic.twitter.com/oKhwDeusUz

— Kemi Badenoch (@KemiBadenoch) May 23, 2023

Badenoch’s trip comes as the total trade between the UK and GCC reached a record high of GBP61.3bn in 2022.

During her tour, Badenoch will have discussions with senior business leaders and investors to encourage inward investment to the UK – currently worth more than GBP15.7bn.

Ahead of her visit, Badenoch said, “We already have a strong trade and investment relationship with the Gulf nations, but I am determined to strengthen this even further. The GCC represents an enormous opportunity for UK firms, whether it’s selling brilliant British food and drink products into new markets or offering new consumers for our flourishing digital trade and renewable energy sectors.

“I know my counterparts are as ambitious for this deal as I am, and I’m ready to match their ambition.”

UK-GCC trade

The UK began talks with the GCC in 2022, with three rounds of talks completed so far, according to a report by the state news agency, WAM.

The GCC is equivalent to the UK’s seventh-largest export market. Their demand for goods and services is expected to grow rapidly to almost GBP1tn by 2035 – an increase of over 75 per cent.

This will open huge new opportunities for UK businesses, from food and drinks to cars and clothes – removing these types of tariffs as part of a trade deal will help to increase choice for GCC consumers, giving them access to a greater range of UK products. This will help to create jobs across the UK, support businesses to expand and grow the economy.

A deal with the GCC will also play to the UK’s strengths as a global services superpower. Of the total, UK exports to GCC amounted to GBP36bn, with more than half being services.

Pioneering green technology firms based across the UK are already taking advantage of the Gulf region’s pivot away from fossil fuels.

Image credit: WAM/ UK Embassy in the UAE