Asean will benefit from breakthrough trade deal between UK and Gulf states
Britain and the Middle East states have a shared interest in the Asian region
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AMID the world’s focus on US-Iran negotiations to end their war, a very different breakthrough in the Middle East – which could have major implications for Asean and Asia – has flown under the radar.
The UK announced last Thursday (May 21) a trade deal with the Gulf Cooperation Council (GCC), which comprises Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman and Qatar.
This group of Middle East economies had a total gross domestic product of around US$2 trillion in 2022. That is forecast to grow to a combined US$6 trillion by 2050, said the World Bank.
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