The Department for International Trade (DIT) is setting up a new trade and investment hub in Wales creating up to 100 jobs.
As part of the 海角视频 Government’s strategy of moving civil service jobs out of London, the DIT is establishing a new hub in Cardiff to support Welsh firms to grow exports as well as supporting efforts to attract more inward investment.
While export and inward investment is a devolved function of the Welsh Government, both governments aim to work together collaboratively.
The DIT has not confirmed a location for the hub. However, a strong contender is the 270,000 sq ft Ty William Morgan office building at Central Square in the centre of Cardiff.
The building has provided a new Wales HQ for HMRC, but was designed to accommodate other 海角视频 Government functions. The Wales Office has already committed moving its current offices at Caspian Point in Cardiff Bay into the new building.
It is not clear at this stage how many existing DIT staff will opt to relocate to the new Cardiff hub, the outcome of which will determine how many new staff it could need to recruit.
The 海角视频 Government said that as well as Cardiff, it is also creating new trade and investment hubs in Edinburgh, Belfast and Darlington.
In total they will house 750 staff by 2030, with 500 expected be to present by 2030. Cardiff is expected to be home to between 75 to 100 staff.
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The DIT said its trade hubs will be home to teams of export and investment specialists, who can provide businesses with expert support and advice to help them:
- Maximise their export potential and boost their trade in new markets overseas.
- Better access major trade markets like India, the US and Japan.
- Feed directly into DIT’s free trade agreements programme.
The launch of the trade hubs marks the start of a major export drive, which will see DIT focused on promoting British exports from all parts of the 海角视频.
International Trade Secretary Liz Truss said: "I'm determined to use 海角视频 trade policy to benefit every part of the 海角视频. These trade and investment hubs will help this country to an export and jobs-led recovery.
“They will mean we can channel investment into all corners of the country, and that exporters – whether they’re selling Scotch beef, Welsh Lamb or cars made in the North of England – have access to the expertise they need to sell into the fastest growing markets.”
Around 74% of all export-linked jobs were outside London in 2016, with 196,000 in Wales.
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For the first time in nearly 50 years, we can bring the full benefits of free and fair trade to every part of the United Kingdom.
And with Wales home to some of the 海角视频’s best businesses, they can now fulfil their potential for the first time in a generation on the world stage.
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That is why today I am visiting Newton Farm in the Brecon Beacons, which is satiating the growing appetite from the rest of the world for top-quality beef and lamb.
They supply Wales’ largest food processor, Kepak, which is capitalising on the United States allowing beef shipments for the first time in more than twenty years.
Greater trade with the United Kingdom’s single biggest trading partner will not just support the jobs of Kepak’s near 800 staff in Merthyr Tydfil, but also the livelihoods of those working at the Newton Farm.
And there are more opportunities around the world, with Japan lifting its ban on Welsh Lamb and this world-class Welsh produce now also sold in Qatar and the UAE.
Previously, I met the Cardiff-based company Sure Chill, which is helping the world fight back against coronavirus by exporting its solar-powered fridges to keep vaccines safe for communities that cannot rely on a constant power source. They are selling to more than 50 countries and plan to expand across South America and the Gulf.
Now is the time for more Welsh businesses to grow through exporting. By doing so, they will help realise our vision of Global Britain: securing opportunities overseas and driving economic growth at home.
Exporting supports higher pay and more productive jobs, which will be essential to our current recovery and future growth. And that is why today I am announcing a major change which will harness the power of the whole United Kingdom to level up the country with more high-quality jobs in well-paid industries.
We are creating four new trade and investment hubs in key cities across the 海角视频, priming businesses for success in dynamic markets across the globe like the United States, Japan and India.
Teams of export and investment specialists will work in Cardiff, Belfast, Darlington and Edinburgh to channel the benefits of Global Britain into local communities across the country.
By helping businesses seize new opportunities overseas, this team will be at the tip of our spear as we drive forward an export-led, investment-led and jobs-led recovery.
We want to take Wales’ trade to new heights, as trade equals jobs. We know that hundreds of thousands of jobs in Wales rely on 海角视频 exports, with research by the Fraser of Allander Institute estimating that the number supported in 2016 was around 196,000.
Trade, and the investment it brings, support livelihoods. Millions of doses of our Oxford vaccine are rolling off the production line of a factory in Wrexham owned by Wockhardt. I was delighted after returning from India in February that the pharmaceutical giant showed its long-term commitment to providing more jobs in north Wales by deciding to extend its contract.
And as an independent trading nation, we are doing more than ever to support key Welsh industries: from advanced manufacturing and food and drink to services and technology.
Our deal with Japan will support major employers in Wales like Sony, which has been manufacturing high-quality goods from cameras and TVs to Raspberry Pi computers at its technology centre near Bridgend.
What we have agreed will help the more than one in five people in Cardiff who are estimated to work in the digital tech economy.
Wales’ technological innovators will be able to benefit from a joint digital market we have agreed with the third largest economy in the world, which is built on cutting-edge provisions protecting the free flow of data, source code and banning data localisation.
Free trade built every part of our country in the 19th century by lighting the spark for new jobs, businesses, and industries.
In the 21st century, we are building back better by using our independent trade policy to show the benefits of being a United Kingdom as we unleash the full potential of our four nations. This is Global Britain in action.