UK very close to finalizing a Free Trade Agreement with the Gulf
Bryant revealed that the UK expects the FTA to increase trade with the Gulf by at least 16.6%, calling it: “One of the most ambitious trade agreements in the world — and possibly the strongest agreement the Gulf has ever concluded.”
The Times Kuwait Report
British Minister of State for Trade, Chris Bryant, affirmed that the United Kingdom and the Gulf states are “very close” to finalizing a comprehensive Free Trade Agreement (FTA), expressing strong optimism that the deal will be signed in the coming weeks.
During his first official visit to Kuwait, Bryant — a historian and author of several history books — began his remarks by expressing deep admiration for Kuwait’s heritage: “I am delighted to be in one of the oldest areas of human settlement in the world. As a historian, coming to a place where humans have lived since ancient times is very exciting.”
A Partnership Built on History — and Future Growth
Speaking at a press conference with media representatives, Bryant said that the purpose of his visit was to support and enhance trade cooperation, emphasizing the long-standing economic and cultural ties between the Gulf and the United Kingdom.
“Many people in the Gulf have been doing business with the United Kingdom for years, decades, even centuries,” he said. “We want to build on this legacy and finalize the free trade agreement as soon as possible.”
According to Bryant, the latest round of discussions with Kuwaiti officials was “one of the longest and most productive,” with only a few technical points still under negotiation.
“I am very optimistic that in the next few weeks, or very soon, we will be able to reach a signed and finalized agreement. Just a few minor areas need clarification.” He added that another round of talks will take place in London next week.
Investment Flow — Both Ways
Bryant stressed that the partnership is not solely about attracting Gulf investment into the UK, but also encouraging British companies to invest in the region. “I want to see investments flowing both ways. Kuwait has historically invested significantly in the United Kingdom — in infrastructure, stock markets, football clubs, and more.”
He revealed that the UK recently launched a multi-billion-pound fund under the UK Export Finance (UKEF) framework to support British companies wishing to expand into the Gulf. “It is easy to sign an agreement, but what matters is using it. This is where Gulf and British business leaders come in — to achieve shared prosperity.”
Beyond Oil: A Vision for Diversification
Linking the FTA to Kuwait’s Vision 2035, Bryant emphasized the importance of economic diversification: “Any country relying on a single industry will eventually face shocks. We are ready to support Kuwait in its diversification journey.”
He highlighted that the agreement goes far beyond oil or raw materials, and includes opportunities in: Advanced engineering and aerospace, Financial services, Creative industries (including film, music, and design). He even noted that British creative exports have cultural resonance in the region: “Artists like Ed Sheeran, Adele, and Dua Lipa have large fan bases in the Gulf — and we want to enhance cooperation in these creative sectors.”
Post-Brexit Advantage
Bryant acknowledged that Brexit gave the UK new flexibility to negotiate independent trade deals. “If we were still in the EU, I wouldn’t be here negotiating this agreement. The Union would do it, and it might take years.” However, he admitted that the UK still needs a stronger trade framework with the EU itself.
Expected Economic Impact
Bryant revealed that the UK expects the FTA to increase trade with the Gulf by at least 16.6%, calling it: “One of the most ambitious trade agreements in the world — and possibly the strongest agreement the Gulf has ever concluded.”
He ended with a metaphor, quoting American singer Bette Midler: “You have to give a little and take a little — and that is the essence of trade agreements.”
