Gulf trade deal update
The UK has struck a trade deal with the Gulf Cooperation Council (GCC), with the government estimating it could boost the UK economy by £3.7bn annually in the long term.
Fiona Parsons
21 May, 2026
Business West
BCC press release: Diplomatic Advisory Hub offers Middle East conflict insight
Hundreds of businesses have gained unique geopolitical insight into the Middle East crisis, thanks to a joint initiative by the British Chambers of Commerce (BCC) and the Foreign, Commonwealth and Development Office (FCDO).
The first event organised by the new Diplomatic Advisory Hub, saw senior FCDO officials host a webinar yesterday afternoon (Wednesday) giving updates on the unfolding situation, and its implications for costs, energy, logistics and risk. Firms were also given crucial advice on stress-testing planning for trade with the Middle East.
Further briefings like this on geopolitical challenges and opportunities will be arranged in the coming months.
The Hub was announced by the Foreign Office in March last year at the BCC’s Driving International Trade Conference. It is now fully operational, with businesses able to receive personalised geopolitical advice via the BCC website and a series of planned events across the Chamber network.
It is the first time, diplomats have been seconded into the British Chambers of Commerce. They are led by Richard Oppenheim, a former Ambassador, who brings a wealth of diplomatic experience across some of the world’s most complex and strategically important markets in the Middle East and Japan, as well as multilateral experience at the UN, on EU issues and as a Commonwealth Envoy.
Businesses in West Yorkshire will receive an outline of the hub’s work at a launch event in Leeds today (Thursday), attended by BCC and FCDO officials.
Shevaun Haviland, Director General of the British Chambers of Commerce said:
Today’s first webinar on the situation in the Middle East was a powerful signal of how vital the Diplomatic Advisory Hub is. “It will help more SMEs navigate the complex world of geopolitics, giving them the knowledge and certainty to expand into new markets. “This unique partnership with the FCDO shows how government and business working together can drive forward growth. “British firms know business and British diplomats know world politics. Bringing them closer together can only be a recipe for success.
Seema Malhotra MP, Foreign Office Minister said:
As a former UK Ambassador, I know how crucial strategic advice is to British SMEs wanting to trade around the world. “The Hub is both a front door and a feedback loop. It’s a front door for businesses to tap into geopolitical advice, and a feedback loop so that what businesses are seeing in supply chains and boardrooms flows back to our diplomats and policy makers.
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