Downing Street published a readout on 26 February 2026 confirming that the Prime Minister, Sir Keir Starmer, spoke by phone with His Royal Highness Mohammed bin Salman, Crown Prince of Saudi Arabia. The discussion covered bilateral ties, progress in the UK–GCC free trade agreement talks, the Gaza ceasefire and Iran. (gov.uk)
On trade, No.10 recorded that both leaders recognised the potential economic benefits of a UK–GCC FTA and looked forward to further progress. That language keeps the negotiation track clearly open while avoiding detail on timelines or unresolved chapters. (gov.uk)
The Department for Business and Trade’s last formal update on 19 February 2024 reported the sixth negotiating round had advanced draft treaty text across most chapters and reaffirmed a shared commitment to an “ambitious, comprehensive and modern” agreement. The GCC Secretariat later noted, following a London meeting with the UK Business and Trade Secretary on 13 June 2025, that both sides were working to complete talks in preparation for signature. HM Treasury subsequently highlighted over £6.4 billion in two‑way trade and investment announced during an October 2025 Gulf visit, building on the UK–Saudi Great Futures Summit in London, which it said recorded more than £4.1 billion in deals. (gov.uk)
For context, official market guidance shows UK exports to Saudi Arabia totalled £12.2 billion in the four quarters to the end of Q1 2025, with Saudi Arabia listed as the UK’s 20th‑largest export market over that period. These data frame the scale of bilateral commerce underpinning the political track. (business.gov.uk)
Government modelling published in its 2022 strategic approach estimated that a UK–GCC FTA could increase UK GDP by around £1.6–£3.1 billion and boost trade by about £8.6–£15.8 billion in 2035. The same document noted that the simple average tariff applied by GCC states to UK exports was roughly 5.5 percent-an indicator of potential tariff‑cut gains if a deal is concluded. (assets.publishing.service.gov.uk)
That 2022 paper also set out policy guardrails: the NHS is not on the table; high environmental, labour, food and animal‑welfare standards will be maintained; and export controls on arms would be unaffected by any agreement. For UK firms, those commitments narrow regulatory risk while signalling that market‑access improvements-particularly on services and digital trade-are the likely focus of value. (assets.publishing.service.gov.uk)
Turning to regional security, the readout states the Prime Minister urged partners to work together to sustain the Gaza ceasefire and to support long‑term stability. The UK has previously set out at the UN Security Council its call for an immediate ceasefire, release of all hostages and unhindered humanitarian access, a line that underpins today’s message. (gov.uk)
On Iran, No.10 reported the UK remains focused on supporting the ongoing political process between the United States and Iran, reiterating that Iran must never be able to develop a nuclear weapon. That position aligns with the E3’s initiation of the UN “snapback” process in August 2025 and the UK’s explanation of vote the following month, both of which stressed a diplomatic route paired with firm non‑proliferation requirements. (gov.uk)
The call also referenced the Prince of Wales’s visit to Saudi Arabia earlier in February, which No.10 described as historic and reflective of the depth of the UK–Saudi relationship. Royal engagement of that kind sits alongside ministerial economic diplomacy highlighted by HM Treasury in late 2025, underscoring multi‑channel ties beyond trade negotiations. (gov.uk)
Analysis: For policy teams and boards trading into the Gulf, today’s readout signals continuity-economic talks with the GCC proceed in parallel with regional diplomacy. The negotiating emphasis remains on market access for goods and services within the government’s stated guardrails; formal updates from DBT and the GCC Secretariat will determine pacing, while security discussions on Gaza and Iran continue on distinct, but closely watched, tracks. (assets.publishing.service.gov.uk)