SAUDI ARABIA

UK PM to visit Saudi Arabia on Monday for trade and diplomatic talks

December 08, 2024
Trade between the UK and Saudi Arabia currently totals £17 billion annually.
Trade between the UK and Saudi Arabia currently totals £17 billion annually.

Saudi Gazette Report

RIYADH British Prime Minister Keir Starmer is scheduled to visit Saudi Arabia on Monday to meet Crown Prince Mohammed bin Salman as part of a Gulf tour aimed at boosting economic and diplomatic ties.

This marks Starmer’s first visit to the region as Prime Minister, with discussions in Saudi Arabia expected to focus on advancing a potential free trade agreement with the Gulf Cooperation Council (GCC), strengthening defense and security partnerships, and encouraging increased Saudi investment in the UK.

Trade between the UK and Saudi Arabia currently totals £17 billion annually, with Saudi Arabia serving as the UK’s largest defense exports market, valued at £3.8 billion a year.

The GCC collectively accounts for £55 billion in trade with the UK, and a new agreement could boost bilateral trade by 16%, adding an estimated £8.6 billion annually.

“This region holds immense untapped potential,” Starmer said ahead of his visit. “I am here to accelerate progress on the Gulf Cooperation Council Free Trade Agreement, deepen research and development collaboration, and partner on future-focused projects in areas such as artificial intelligence and defense.”

Saudi Arabia and the UAE are already major investors in the UK, and Starmer’s trip seeks to further deepen these ties, particularly in innovation and technology.

In addition to trade, Starmer’s agenda includes discussions on Middle East stability, emphasizing the need for a ceasefire between Israel and Gaza, the release of hostages, and accelerated humanitarian aid to the region.

The visit underscores Saudi Arabia’s central role in the UK’s foreign policy and its importance as a key partner in shaping economic and security strategies in the Gulf region.


December 08, 2024
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