Bahrain Ambassador to UK highlights GCC UK free trade deal potential at London seminar
London, June 27 (BNA): Shaikh Fawaz bin Mohammed Al Khalifa, the Kingdom of Bahrain’s Ambassador to the United Kingdom, took part in a seminar hosted by the Middle East Association to discuss the importance of the free trade agreement between the Gulf Cooperation Council (GCC) and the United Kingdom.
The seminar included Lord Leicester, a member of the UK House of Lords and the parliamentary committee on Bahrain, and Jack Morton Burt, Head of Communications on the Free Trade Agreement at the UK Department for Business and Trade. It was moderated by former ambassador Nicholas Hopton, the association’s Director General.
In his remarks, Shaikh Fawaz bin Mohammed said the agreement would support development and trade exchange for mutual benefit, in line with the visions of the GCC leaders.
He commended the recent official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to London, during which Bahrain and the UK signed the second Strategic Investment and Collaboration Partnership (SIP2). The agreement aims to drive economic growth and job creation in both countries, particularly in financial services, technology, and industry. It also supports carbon reduction efforts through a £2 billion investment by the Bahraini private sector in the UK. This follows the £1 billion investment committed under the first partnership signed in 2023.
The visit also saw the signing of a defence cooperation agreement focused on enhancing regional peace, coordination, and joint training, and strengthening naval partnerships.
Shaikh Fawaz highlighted Bahrain’s supportive investment environment, which includes skilled national talent, flexible legislation, and a strategic location at the heart of the Gulf. He added that the Bahrain Logistics Zone, located near air, land, and sea transport hubs, further enhances these advantages and that the free trade agreement would increase the Kingdom’s attractiveness to British investors.
He noted that negotiations on the free trade agreement, which have included eight rounds between Riyadh and London, have reached an advanced stage. He expressed confidence that the agreement would mark a turning point in economic relations between the GCC and the UK, with emphasis on key sectors such as technology, digital economy, life sciences, creative industries, education, artificial intelligence, financial services, and renewable energy.
Lord Leicester commended the strong ties between Bahrain, the GCC, and the UK. He said the free trade agreement would boost trade volume and investment, especially given the region’s economic strengths and its well educated, ambitious workforce.
Jack Morton Burt emphasised the GCC’s importance to the UK economy and said the agreement would provide momentum for enhanced trade, investment, and technology cooperation. He also highlighted the significant efforts of the negotiating teams to achieve progress on key issues.
