Bahrain has participated in the GCC-UK Free Trade Agreement briefing event hosted by Middle East Association (MEA), a UK-based association that promotes constructive relations between the UK and the Middle East region across various areas.
During the seminar, Shaikh Fawaz bin Mohammed Al Khalifa, Bahrain’s Ambassador to the United Kingdom, highlighted the importance of the free trade agreement (FTA) between the GCC region and the United Kingdom.
The seminar featured 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.
Shaikh Fawaz bin Mohammed stated that the FTA will support development and trade exchange for mutual benefit, in line with the visions of the GCC leaders.
The recent official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain, to London, was also highlighted. During the visit, Bahrain and the UK entered into the second Strategic Investment and Collaboration Partnership (SIP2).
The agreement aims to fuel economic growth and flourish job opportunities in both countries, particularly in financial services, technology and industry. SIP2 also seeks to supports carbon reduction efforts through a $2.53 billion (£2 billion) investment by the Bahraini private sector in the UK. This follows the $1.369 billion (£1 billion) investment committed under the first partnership agreement signed in 2023.
The visit also included the signing of a defense cooperation agreement, which aims to strengthen regional peace, coordination, and joint training, as well as deepening naval partnerships.
Shaikh Fawaz highlighted Bahrain’s thriving investment environment, which includes skilled national talent, flexible legislation and a strategic location at the heart of the Gulf.
Ambassador added that the Bahrain Logistics Zone, positioned near air, land, and sea transport hubs, further enhances these advantages and that the FTA will boost the Kingdom’s attractiveness to British investors.
The talks on FTA between Riyadh and London have reached an advanced stage. Shaikh Fawaz also expressed hope in the agreement that it will bolster GCC-UK economic relations, with a focus on key sectors such as technology, digital economy, life sciences, creative industries, education, artificial intelligence, financial services and renewable energy.
Lord Leicester also praised the strong ties between Bahrain, the GCC, and the UK, stating that the FTA will enhance trade volume and investment.
Furthermore, Jack Morton Burt emphasized that the agreement will lead to enhanced trade, investment and technology cooperation. The significant efforts made by the negotiating teams to achieve progress on key issues were also highlighted.
