Britain clinches $5 billion Gulf trade deal in shadow of Iran war
London – Britain said on Wednesday it had secured a trade deal with the Gulf Cooperation Council worth $5 billion a year in the long run, deepening economic ties with allies in a region dealing with the fallout from the Iran war.
The deal with the GCC — comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates — comes after U.S.-Israeli strikes against Iran in February triggering Iranian attacks on other countries in the region, putting a strain on energy and food supplies.
“At a time of increased instability, today’s announcement sends a clear signal of confidence — giving U.K. exporters the certainty they need to plan ahead,” Britain’s Trade Minister Peter Kyle said.
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