The business minister states that UK trade deals with India and Gulf nations are a top priority.

• The Labour government's top priority is to secure free trade deals with India and Gulf nations, the U.K. announced on Monday.
• The U.K. Business and Trade Minister, Jonathan Reynolds, informed CNBC that negotiations between Britain and the Gulf Corporation Council are likely to restart "shortly" or "perhaps as early as next week."
• The U.K.'s free trade agreements have not been realized despite being advertised as a significant advantage of Brexit.

The Labour government's top priority is to secure trade deals with India and Gulf nations, with talks between Britain and the Gulf Corporation Council set to resume next week.

The U.K. Business and Trade Minister, Jonathan Reynolds, stated that negotiations with a group of six Gulf countries will resume "very soon, possibly next week," while discussions with India continue to be a priority.

Reynolds stated at the U.K.'s International Investment Summit at London's Guildhall that the Gulf and India are the top priorities. He explained that there are evident economic and commercial reasons to pursue these regions.

The promise of U.K. free trade deals with India was a significant advantage of Brexit, as former Prime Minister Boris Johnson pledged to achieve one by Diwali 2022. However, these deals have been difficult to attain, with only a few agreements reached, including those with Australia, New Zealand, and Singapore.

Reynolds pledged to continue the former Conservative government's work in this area shortly after taking office in July. Last month, he visited the Gulf for initial talks with the GCC, whose members include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

The government is currently engaged in trade negotiations with Israel, South Korea, Switzerland, and Turkey, as stated by the trade minister.

Reynolds stated on Monday that he would not provide a specific time frame for the deals, emphasizing that the government's initial responsibility was to "re-establish the authority for those trade talks" and build upon the work of his predecessors.

"Explaining the timescale of a deal can be challenging when it's only half done, as the easy parts have already been accomplished," he stated.

He maintained that the deals were crucial for the U.K.'s economy and diplomacy.

Recognizing that British engagement commercially, country to country and business to business, is a good thing, he stated that although we don't conduct foreign policy through trade deals, it's important to acknowledge this engagement.

Reynolds stated that even in countries that are not democracies like ours, it is beneficial to have a positive relationship. He emphasized that this relationship is not solely commercial in nature but also brings about various benefits.

According to India's Commerce Secretary Sunil Barthwal, U.K.-India trade talks, currently in their 15th round, could resume as soon as this month.

In September, India's Minister of Commerce and Industry Piyush Goyal stated to CNBC's Tanvir Gill that both parties were eager to reach a deal, but it would occur "methodically."

Goyal stated that a trade deal should never be reached under threat of force, whether it's towards the U.K. or India.

"To ensure that both sides' national interests and sensitivities are protected, treaties must be carefully calibrated to be fair, equitable, and balanced, taking into account the future different positions that each partner will have."