The agreement removes £580m in import tariffs, boosting UK exports of cheese, chocolate, and smoked salmon to Gulf nations.
A new trade deal between the UK and the Gulf Cooperation Council (GCC) will eliminate £580m in import tariffs on British food and drink exports. Key products like cheddar cheese, chocolate, biscuits, and Scottish smoked salmon will benefit from immediate tariff removals, including 6%, 15%, and 10% levies respectively.
Total trade between the UK and the GCC is valued at £53bn, with the deal expected to add £15.5bn in trade and deliver a £3.7bn annual boost to the UK economy. Tariffs worth £360m will be removed upon implementation, rising to £580m over time.
The Food and Drink Federation called the agreement an “exciting opportunity” amid regional trade uncertainty, noting pre-conflict exports to the GCC exceeded £800m annually and were growing at twice the global rate.