- The UK has finalised a free trade agreement with the Gulf Cooperation Council (GCC), making it the first G7 nation to secure such a deal after four years of negotiations.
- The agreement, involving Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is projected to boost the UK economy by £3.7 billion annually and increase domestic wages by £1.9 billion.
- Tariffs will be removed on key UK exports, including food, medical equipment, and advanced manufacturing, with an estimated £580 million in duties to be eliminated annually once fully implemented.
- The deal includes commitments on the free flow of data and anti-corruption measures, though it does not contain a specific human rights clause.
- The government has hailed the deal as a significant win for British businesses, aiming to increase current bilateral trade of £53 billion by 20 per cent and support high-quality jobs.
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