UK Chancellor Rachel Reeves will lead a high-level trade delegation to Saudi Arabia on Monday, marking the first such Gulf visit by a British chancellor in six years. The mission aims to strengthen economic ties and advance negotiations on a trade agreement with the Gulf Cooperation Council (GCC), which includes Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman.
The UK government expects a potential GCC trade deal to add up to £1.6 billion annually to the national economy and increase wages by £600 million in the long term. Reeves emphasized that her visit underscores Britain’s commitment to global growth, stability, and investment partnerships that benefit communities across the UK.
However, the trip faces criticism from human rights advocates who argue that trade relations should not deepen without binding commitments on human rights and labor standards. The Trades Union Congress has urged ministers to ensure ethical considerations are upheld in any final agreement.
During her visit, Reeves will attend the Fortune Global Forum and the Future Investment Initiative in Riyadh, where she will promote the UK as a premier investment destination. She is joined by senior business figures from Barclays, HSBC, GSK, and the London Stock Exchange, aiming to secure new partnerships ahead of the upcoming UK budget in November.