Ministers hope to secure a deal with the Gulf Cooperation Council that could add £1.6bn to the UK economy
Rachel Reeves will lead a delegation of senior business leaders to Saudi Arabia on Monday as she hopes to deepen the UK’s relationship with a state that has been widely criticised for human rights abuses.
She is the first UK chancellor to visit the Gulf in six years and is expected to meet senior Saudi royals, US administration representatives and global business figures.
The visit comes as the UK continues its efforts to secure a trade agreement with the Gulf Cooperation Council (GCC), which also includes Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates. The government hopes a deal with the GCC could add £1.6bn to the UK economy each year and contribute a further £600m to UK workers’ annual wages in the long term.
Reeves said: “Our number one priority is growth, so I am taking Britain’s offer – of stability, regulatory agility and world-class expertise – directly to one of the world’s most important trade and investment hubs, making that case in our national interest.”
