British Prime Minister Keir Starmer has declared the UK to be “the best place to invest” as he looks to seal a free trade agreement with the Gulf.
In a foreign policy speech on Monday, Mr Starmer also pledged Britain’s loyalty to the incoming US administration of Donald Trump, saying “we will invest more deeply than ever in this transatlantic bond”.
But with a coming regional trip this month, his key focus will be on getting the post-Brexit free trade agreement with the Gulf Co-operation Council (GCC) over the line.
Gulf trade deal
Speaking at the London Lord Mayor’s white-tie banquet for business leaders, Mr Starmer said Britain would be open for deals.
“We will create a climate for growth to make the UK the best place to invest, the best country to trade with, the best place to create and grow a business,” he said. “That’s why we are looking outwards. Deepening trade with our allies. Building ties in the Gulf, the Pacific and beyond.”
A number of UK ministers have visited the Gulf in recent months, including Trade Secretary Jonathan Reynolds, who went to Riyadh to discuss boosting the trade relationship which is already worth £57 billion ($72.16 billion). The government believes a GCC trade deal could boost the UK economy by £1.6 billion in the long run.
Jasem Al Budaiwi, the GCC Secretary General, also met Mr Reynolds in July, shortly after Labour won the election, and they said there was a mutual agreement to conclude the free-trade agreement talks by the end of 2024.
The UK and GCC have held seven rounds of trade negotiations since 2022.
Before the speech, it was announced that Sir Chris Wormald has been appointed as the new Cabinet Secretary, the most powerful civil service post, and will be a leader in helping to finalise any deal.
Trump offensive
Despite Labour ministers using highly critical language of Mr Trump before he was elected, the government is now clearly eager to mend relations, with Mr Starmer recalling how the president-elect had “graciously hosted me for dinner in Trump Tower”.
“I told him that we will invest more deeply than ever in this transatlantic bond with our American friends in the years to come,” he added.
Britain’s relationship with American had “been the cornerstone of our security and our prosperity for over a century” and “we will never turn away from that”.
“It is written not in some dry, dusty treaty, but in the ink of shared sacrifice,” Mr Starmer said. That was also a signal to Mr Trump to continue supporting Ukraine as “the future of freedom in Europe is being decided today”.
He said the continent faces “a near and present danger with Russia as an erratic, increasingly desperate aggressor” that was “marshalling all its resources, along with North Korean troops and Iranian missiles, aiming to kill and to conquer”.
Standing tall
Mr Starmer also promised that Britain would work to maintain the fragile peace in Lebanon and end the conflict in Gaza.
“We’ll increase the flow of aid to those suffering so terribly, in Gaza and in other conflict zones, like Sudan,” he said. “And in Syria, we call again on the regime and all actors to work towards a political solution to stop the fighting.”
Mr Starmer referred to the war in Ukraine, saying the further Russian troops advanced, “the closer the threat becomes” and that military aid would continue to Kyiv “to put Ukraine in the strongest possible position” before possible peace negotiations begin after Mr Trump takes office next year.
After the turbulent years of Conservative government, Britain’s role in the world was to “be a constant and responsible actor in turbulent times” and to “be the soundest ally” that would “stand tall once again,” he concluded.
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
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The specs: 2018 Nissan 370Z Nismo
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
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England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
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Key facilities
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
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UAE currency: the story behind the money in your pockets
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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Grand Slam Los Angeles results
Men:
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62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
