British and Gulf officials have called on businesses and investors to begin turning a landmark free trade agreement into concrete partnerships without waiting for its formal ratification, as both sides seek to deepen economic ties and expand cooperation beyond traditional trade.
The calls came during the UK-GCC Strategic Dialogue Forum, organised by The Business Year in central London on Tuesday, bringing together senior officials, representatives of Gulf sovereign wealth funds and private sector companies to explore investment opportunities arising from the agreement.
The UK became the first G7 economy to conclude negotiations on a free trade deal with the six-member Gulf Cooperation Council (GCC) on 20 May 2026, when the British government announced that talks had been completed following nearly four years of negotiations that began in June 2022.
However, the agreement has yet to be formally signed and ratified, with both sides still working to finalise and legally verify its text before completing the necessary government and parliamentary procedures.
While the deal is not yet legally in force, officials at the forum stressed that businesses could already begin identifying investment opportunities, building partnerships and preparing projects that could benefit from improved market access once it takes effect.
GCC Secretary-General Jasem Mohamed Albudaiwi described the agreement as a "significant achievement" in relations between Britain and the Gulf states, stressing that its importance extended well beyond the immediate benefits of trade.
Speaking at the forum, Albudaiwi said the agreement would strengthen economic partnerships, support diversification efforts and improve competitiveness across the Gulf economies, which have increasingly sought to reduce their dependence on oil revenues.
"GCC estimates put total investment between the two sides at $643 billion, while bilateral trade reached approximately $70 billion in 2025," he said.
The agreement is expected to eliminate tariffs on more than 90% of GCC exports to the UK, opening new opportunities for businesses and strengthening the Gulf's position as a major economic partner for Britain.
"The deal would support the GCC's wider economic objectives, including greater economic integration, diversification of production, improving the business environment and empowering the private sector," Albudaiwi said.
He highlighted opportunities in developing smart cities, sustainable living and attracting leading international technology companies, alongside cooperation in healthcare, financial technology, artificial intelligence, advanced manufacturing and clean energy.
These sectors have become increasingly important to Gulf economic transformation plans, as governments seek to attract international expertise, develop new industries and create sources of growth beyond oil and gas.
The GCC chief stressed that the success of the agreement would ultimately be measured not simply by its signing, but by the joint ventures, business partnerships and economic opportunities it generated.
He urged business leaders and investors from both sides to seize the opportunities offered by the agreement and begin translating its provisions into practical projects.
UK pledges support amid regional uncertainty
British Trade Minister Lord Anas Sarwar echoed those calls, urging businesses not to wait until the agreement had been formally signed and ratified before exploring new partnerships.
Addressing the forum, Sarwar acknowledged that the Gulf was experiencing a "nervous time" and a "time of challenge", offering assurances of Britain's continued support for its regional partners.
"It is in difficult times that you know where your friends are," he said, explaining that his first overseas visit as trade minister had been to the Gulf.
Sarwar stressed that the partnership was important to the British government and could contribute to economic growth and improved living standards across the UK.
He described the relationship as being about more than signing an agreement, calling for immediate cooperation across sectors including aviation, security systems, financial services and legal services.
He also highlighted opportunities in artificial intelligence and digital infrastructure, pointing to Britain's research capabilities and the Gulf's access to energy and resources needed to support the expansion of data centres and cloud computing infrastructure.
Such cooperation could allow British companies to contribute technical expertise and specialist services to major Gulf development projects, while creating opportunities for Gulf investors to expand their involvement in Britain's technology and infrastructure sectors.
Sarwar said economic cooperation needed to work in both directions, with Britain seeking not only greater Gulf investment in the UK but also increased British investment and exports into Gulf markets.
He also encouraged businesses to explore joint investments in third countries, arguing that UK-Gulf cooperation should extend beyond bilateral projects.
Lord Mayor of London Alderman Sir Alastair King similarly highlighted the potential for British and Gulf investors to combine their resources and expertise to pursue opportunities in other international markets.
The UK hopes the agreement will encourage larger and more sustained flows of Gulf capital into British infrastructure, property and other strategic sectors, while opening one of the world's most important markets to British exporters.
The emphasis on joint investment also reflects a broader ambition to move beyond conventional trade in goods and services towards longer-term partnerships involving technology, infrastructure development and international projects.
Four years of negotiations
GCC chief negotiator Raja Almarzoqi expressed optimism about the agreement's long-term economic benefits, revealing that negotiators from both sides had held approximately 900 meetings before reaching an agreement.
He said one of the most challenging aspects of the negotiations had been securing a unified position among the GCC's six member states, which have different economic priorities and domestic interests.
Almarzoqi cited studies by the World Bank and the International Monetary Fund suggesting that free trade agreements could increase trade between participating countries by 60% to 100% over five to ten years after implementation.
He expressed confidence that the UK-GCC agreement could deliver similar results, although the scale of any increase would depend on how businesses used the opportunities created by the deal.
Kuwait's Trade Minister Abdulaziz Naser Almarzouq also emphasised the importance of economic diversification, saying Gulf countries were seeking high-quality investments capable of supporting sustainable long-term growth.
He described Britain as a strong economic partner and called for existing relations to be expanded through new investment opportunities.
Discussions at the forum also focused on financial markets, investment and the Gulf states' economic transformation strategies, including Oman's efforts to diversify away from an energy-dependent economy.
The free trade agreement is expected to provide British companies with greater long-term access to Gulf markets while giving GCC businesses improved opportunities to expand their activities in the UK.
For businesses, the potential benefits extend beyond tariff reductions to opportunities for new commercial relationships, investment planning and greater participation in sectors targeted for growth by both sides.
However, the agreement's practical benefits will depend on its final provisions, implementation and the extent to which companies are able to take advantage of the new arrangements.
Although the main terms were agreed in May, the final legal text must still be completed and verified before the agreement can be signed. It will then need to undergo the necessary approval procedures in Britain and the GCC states, including parliamentary scrutiny in the UK.