Trade Agreements: Gulf Cooperation Council
The question
To ask the Secretary of State for Business and Trade, for what reason his Department is pursuing a multilateral free trade agreement with the Gulf Cooperation Council rather than bilateral agreements with the member states.
Answered by Mr Douglas Alexander
The UK and GCC Member States have agreed to negotiate a GCC-wide FTA, reflecting the opportunities this presents to increase trade and investment with all parties. The GCC is equivalent to the UK’s 9th largest trading partner.
During the Call for Input launched in advance of negotiations and subsequently, businesses and stakeholders expressed a preference for a UK-GCC FTA. An FTA will enable UK businesses to benefit from preferential access with all six GCC markets, unlocking new opportunities and giving them an advantage over international competitors.
We are committed to further deepening the bilateral trade and investment relationship through formal and informal dialogue with Gulf partners.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →