UK trade deals with India and Gulf nations are ‘the priority,' business minister says

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The U.K. said Monday that securing deals with India and Gulf nations remains “the priority” for Labour’s free trade agenda, with talks between…

The U.K. said Monday that securing free trade deals with India and Gulf nations remains"the priority" for the Labour government.

U.K. Business and Trade Minister Jonathan Reynolds told CNBC that negotiations with a six-strong group of Gulf countries would reconvene"very soon — maybe as soon as next week," while talks with India also remain a priority."The Gulf and India are the priority," Reynolds said at the U.K.'s International Investment Summit at London's Guildhall."I think there are clear economic and commercial reasons why we should pursue those," he said.

Shortly after taking office in July, Reynolds committed to continuing the work of the former Conservative government in this regard, and last month hethe Gulf for initial talks with the GCC, whose members include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.The trade minister has also previously said that the government was pursuing trade talks with Israel, South Korea, Switzerland and Turkey.

"And even where those countries are not democracies like ours, it's a very positive relationship to encourage. It's not just commercial in terms of the benefits that come from those," Reynolds added.

 

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