Business Council. He questioned why the UK had not pursued deals with individual Gulf states. “You cannot underestimate the importance of a direct deal between two countries,” he stated. The UK government remains committed to securing
a deal, which it estimates will boost bilateral trade by 16 per cent, equivalent to an extra £8.6 billion a year in trade between the GCC and UK. Current sticking points in negotiations are believed to
include the choice of a mutually-acceptable jurisdiction to resolve trade disputes, and the removal of complex non-tariff barriers such as standards and procedures affecting foreign companies. Alana Li, Middle East analyst at the Asia House think-tank, told Arabian Gulf Business Insight (AGBI): “A deal would pave the way for the UK to
enhance commercial relationships across the region, potentially leading to deeper bilateral agreements with individual economies such as the UAE. “The Gulf states are not a homogeneous bloc.
Differing economic priorities and regulatory frameworks can complicate collective negotiations.” A spokesman for the Department for Business and
Trade said: “Negotiations are progressing at pace, with the priority being to get the right deal for both sides.” Mr Lister said that against the backdrop of Donald Trump’s tariffs, trade deals were “more important than ever before” and this should encourage both sides to move swiftly towards an agreement.
SWITZERLAND TALKS OFFER HOPE FOR SERVICES SECTOR BOOST A seventh round of negotiations on an enhanced FTA with Switzerland are scheduled for “early summer”, according to a government spokesman in London, with optimism high that a deal is not far away. In January, the two nations signed the Recognition of
Professional Qualifications Agreement making it easier for qualified professionals in regulated sectors to work in both countries. Now, the FTA negotiations will centre on “the UK’s
ambition to secure improved market access for its service suppliers, ensuring that data and innovation flow seamlessly between two of the world’s foremost service- driven economies,” according to the EU Today website. “The agreement also aims to provide long-term assurances regarding UK business travel to Switzerland, a key consideration for British professionals operating across sectors such as finance, law, and consultancy.” The report added that in the latest
round of
negotiations in the spring, the two sides “made substantial headway”, adding: “Both sides are reportedly working towards what could be the most comprehensive financial services chapter ever agreed by either country in a trade deal. Given London and Zurich’s status as global financial hubs, an agreement in this area could bolster cooperation, reduce barriers, and set a new benchmark for international financial trade agreements.”
53 LATEST DEVELOPMENTS
Donald Trump and Sir Keir Starmer ratified most of the US-UK trade agreement at the G7 summit in Canada in June. It means that a ten per cent tariff will be imposed on most UK goods. However, the deal has yet to address the removal of US charges on steel imports.
LOOKING AHEAD: CPTPP & THE EU’S SURPRISE MOVE The UK’s accession to the CPTPP was initially seen as more symbolic than substantial. But with Sweden proposing that the EU join the bloc, potentially forming the world’s largest free trade area, the strategic implications could grow dramatically. Whether this proves feasible or not, it signals shifting sands in global trade diplomacy.
Below: 16/06/2025. Prime Minister Keir Starmer and US President Donald Trump sign a trade agreement as they attend the G7 Summit in the Kananaskis mountain lodge in Canada.
Picture by Simon Dawson / No 10 Downing Street.
GLOBAL MOBILITY
GLOBAL TRADE
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