Bahrain Chamber holds crucial talks on GCC-UK trade deal

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

In a key meeting held at the Bahrain Chamber headquarters yesterday, Khalid Najibi, the First Vice-Chairman of the Bahrain Chamber, held talks with Paris Rayman-Bacchus, the Deputy Chief Negotiator of the UK-GCC Free Trade Agreement (FTA), on the trajectory and potential outcomes of the GCC-UK Free Trade Agreement.

Najibi expressed his satisfaction with the robust relations between the GCC and the UK, specifically accentuating the longstanding cooperation and amity shared between Bahrain and the United Kingdom.

Emphasizing the significance of the anticipated agreement, Najibi highlighted its capacity to amplify trade activities and stimulate enhanced business collaboration between the two regions.

He underscored the vast market potential, with the UK gaining access to a populace of 56 million and a market worth 2.5 trillion US dollars.

Additionally, Najibi reiterated the fervent interest of the Bahraini private sector in securing an agreement that aligns with its objectives and bolsters trade volumes, which have averaged 500 million US dollars over the preceding three years.

He emphasised the importance of sectors such as tourism and assured that the Bahrain Chamber is dedicated to disseminating pertinent information to the private sector once the agreement is finalized.

In response, Rayman-Bacchus echoed the UK’s steadfast commitment to orchestrating a mutually advantageous Free Trade Agreement with the GCC.

Acknowledging the historical camaraderie and comprehension between the two parties, as well as the GCC’s standing as the UK’s seventh-largest trading partner, he voiced optimism regarding the agreement’s potential and the unexplored avenues it presents for collaboration and growth.