Government of Jersey: Jersey Included in Landmark UK–GCC FTA

Following the conclusion of negotiations, Jersey has been included in the Free Trade Agreement (FTA) between the United Kingdom and the Gulf Cooperation Council (GCC) for both goods and services.

Jersey’s inclusion in the FTA gives local businesses preferential access to one of the Island’s most important overseas markets and is a significant development for the Island’s economy.

The GCC, comprising the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Qatar, the State of Kuwait, the Sultanate of Oman, and the Kingdom of Bahrain, has become an increasingly significant market for Jersey’s financial and related professional services sector.

Investment flows between Jersey and the region are already significant and well-established. The GCC region has more than 50 million consumers and a combined GDP exceeding £2.3 trillion.

It will be the first UK-negotiated FTA for which Jersey will be included for both goods and services provisions from the outset. It will provide clearer, predictable rules for Jersey firms delivering financial, legal, and professional expertise in GCC markets as well as preferential opportunities for Jersey based service providers.

The FTA will also ensure that Jersey goods can benefit from the phased removal of tariffs. This opens the Gulf as a new market opportunity for local producers in a region with a strong demand for premium goods.

The Government of Jersey has worked in partnership the UK’s Department for Business and Trade to review and confirm Jersey’s ability to comply with the FTA. It will come into force following completion of ratification procedures by both signatory partners.