An oil tanker passes through the Strait of Hormuz, a vital trade artery between Britain and the Arabian Gulf. Reuters
An oil tanker passes through the Strait of Hormuz, a vital trade artery between Britain and the Arabian Gulf. Reuters
An oil tanker passes through the Strait of Hormuz, a vital trade artery between Britain and the Arabian Gulf. Reuters
An oil tanker passes through the Strait of Hormuz, a vital trade artery between Britain and the Arabian Gulf. Reuters

How UK-Gulf free-trade agreement could transform global commerce


Lemma Shehadi
  • English
  • Arabic

No obstacles are in the way of the UK and GCC negotiations for a free-trade agreement, according to Britain's chief negotiator who said the two sides are "hard at work" on bringing the deal into place.

Tom Wintle was speaking at the Arab-British Economic Summit in London on Monday.

Three years of deliberations have convinced Tim Reid, chief executive of UK Export Finance, that there are "real opportunities" for more UK collaboration with the Arab world.

"There are lots of challenges in the world today, but forgive me, I'm going to focus principally on the opportunities," he told the event at the Hilton London Metropole.

The region's big sporting events was one area where Britain could bring "expertise in clean growth and renewable energy", Mr Reid said.

The agreement would send a "political signal" for both sides that there is trust in "valued partners". It would also make specific provisions for investors.

An FTA would help to "reduce the administrative burden" for travel in both directions between the UK and the Gulf.

A former Egyptian trade minister has said a new basis of commerce could lead to a wider transformation of the economic relationship.

The Qatari liquefied natural gas carrier Duhail sailing through the Suez Canal, one of the world's main trade corridors. AFP
The Qatari liquefied natural gas carrier Duhail sailing through the Suez Canal, one of the world's main trade corridors. AFP

Khaled Hanafy, currently head of the Union of Arab Chambers, said mutual trust was needed to address the challenges of war, climate change and rapid digitalisation, “towards a transformative model that focuses more innovation, sustainability and human capital".

“The future needs a different way of understanding, a different way of trust, a different way of mingling in the human capital between the two sides," Mr Hanafy added. "We are here today to say that we need to reconsider our economic relationship, to revisit the model."

The event, which drew hundreds of businesspeople operating between the UK and the Arab world, was mired in concerns over the escalating conflict between Israel and Iran, which could disrupt trade and shipping routes in the Arabian Gulf.

The UK has expressed support for the US’s air strikes on Iran but Arab countries are wary of further escalation.

Though trade from Arab countries with the UK has reached a about £72 billion ($97 billion), the political uncertainty in the Middle East signals the need for a different model, Mr Hanafy said.

“In our region, in the Arab countries, we believe that we have to change the [economic] model of dealing with others, specifically with the UK,” he said.

“We should not keep just focusing on targeting each other's market. This is the past. The future is different and the last few weeks have shown that we need to do something different.

“We are facing challenges … facing geopolitical realignments that might affect everybody and everybody's business as well."

Netherlands v UAE, Twenty20 International series

Saturday, August 3 - First T20i, Amstelveen
Monday, August 5 – Second T20i, Amstelveen​​​​​​​
Tuesday, August 6 – Third T20i, Voorburg​​​​​​​
Thursday, August 8 – Fourth T20i, Vooryburg

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

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MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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Engine: naturally aspirated 6.5-liter V12

Power: 819hp

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Essentials

The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours 
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

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UAE currency: the story behind the money in your pockets
STAGE 4 RESULTS

1 Sam Bennett (IRL) Deceuninck-QuickStep - 4:51:51

2 David Dekker (NED) Team Jumbo-Visma

3 Caleb Ewan (AUS) Lotto Soudal 

4 Elia Viviani (ITA) Cofidis

5 Matteo Moschetti (ITA) Trek-Segafredo

General Classification

1 Tadej Pogacar (SLO) UAE Team Emirates - 12:50:21

2 Adam Yates (GBR) Teamn Ineos Grenadiers - 0:00:43

3 Joao Almeida (POR) Deceuninck-QuickStep - 0:01:03

4 Chris Harper (AUS) Jumbo-Visma - 0:01:43

5 Neilson Powless (USA) EF Education-Nippo - 0:01:45

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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

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Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

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Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

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if you go

The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip 
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles. 

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

W.
Wael Kfoury
(Rotana)

Updated: June 23, 2025, 4:36 PM`