Secretary of State for Wales is to host a roundtable with
International Trade Secretary and leading dairy businesses to
discuss future trade opportunities once we leave the EU.
Wales exported £14.6bn worth of goods in 2016, up 10.4% from
£13.3bn in 2015, with growing non-EU markets including UAE,
Canada, Turkey and China all featuring in its top 15 export
destinations.
Wales continues to be a hub for global investment, with latest
statistics showing the number of jobs in Wales either created or
safeguarded as a result of Foreign Direct Investment projects
rising to 11,000 in the last year, up from 7,000 in 2015/16.
Secretary of State for Wales, said:
Wales is an ambitious outward-looking nation. Our country is
home to some of the most innovative and exciting companies and
products in Wales are sold right around the globe.
As part of the United Kingdom, Wales benefits from the economic
security and international influence that comes from pooling
our resources.
The UK Government is ready to support Welsh businesses to take
advantage of every opportunity available to them to grow and
expand into new markets.
International Trade Secretary, also said:
The Department for International Trade is committed to helping
Welsh businesses boost exports, find new markets and showcase
their international reputation for excellence, from agriculture
to aerospace.
As an international economic department we will also continue
to build on the impressive increase in jobs backed by in
Foreign Direct Investment, and work closely with the Welsh
Government to design a future trade policy in the national
interest of the whole UK.
Trade White Paper
The Trade White Paper published by the Department for
International Trade establishes the principles that will guide
future UK trade policy as well as laying out the practical steps
that will support those aims.
These include: * taking steps to enable the UK to maintain the
benefits of the World Trade Organisation’s Government Procurement
Agreement; * ensuring the UK can support developing economies by
continuing to give them preferential access to UK markets; *
preparing to bring across into UK law existing trade agreements
between EU and non-EU countries, providing certainty to
businesses and global investors; and * creating a new, UK trade
remedies investigating authority
Feedback from businesses can be sent to stakeholder.engagement@trade.gsi.gov.uk by
6 November.
- Latest statistics show over the last 12 months the UK secured
more foreign direct investment projects than ever before, UK
exports have increased 13.1% on the previous 12 months in the
year to August 2017 and the current account deficit narrowed to
£101.3 billion in the year to 2017 Q2, from £113.8 billion in the
year to 2016 Q2.
- In 2016/17 Wales welcomed 85 Foreign Direct Investment
projects creating or safeguarding over 11,000 jobs.
- Wales exported £14.6bn worth of goods in 2016.
- While Europe is a key market for Wales, non-EU countries
including UAE, Canada, Turkey and China all feature in the top 15
destinations for Welsh exports of goods with the USA remaining
Wales’ largest export market for goods.
- The UK Government has developed the Wales Export Guide – a
document that sets out the full range of support available to
Welsh businesses from the UK Government and contains inspiring
stories of companies based in Wales that are successfully
exporting.
- You can download a copy of the guide here
