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Britain, Gulf countries negotiating free-trade agreement - British investment minister

Reuters
Chairman of Barclays Bank Sir Gerry Grimstone speaks at a European Financial Forum event in Dublin

DUBAI (Reuters) - Britain and Gulf Cooperation Council (GCC) countries are negotiating a free-trade agreement, Britain's investment minister, Gerry Grimstone, said on Monday.

A deal will be concluded within 12 months, Grimstone said at a conference in Dubai.

The GCC is already an important trading partner for Britain, with almost 22 billion pounds ($29.57 billion) of British exports and bilateral trade worth over 30 billion pounds in 2020, showed a British government website.

($1 = 0.7440 pounds)

(Reporting by Davide Barbuscia and Saeed Azhar; Editing by Christopher Cushing)