I regularly meet with my ministerial colleagues to discuss a range of topics, including our future trade agreements. This includes the quarterly Inter-Ministerial Trade Advisory Groups, in addition to regular bi-lateral meetings.<\/p>
Leaving the EU has given us the ability to strike our own trade deals, creating new opportunities for our excellent businesses in Wales to trade internationally. The Australia Free Trade Agreement (FTA) is the first we have negotiated from scratch since leaving the EU and shows what we are capable of as a sovereign trading nation. This trade deal can boost Wales\u2019 economy by around £60 million. We have further achieved an agreement in Principle with New Zealand, and through this Welsh automotive companies will benefit from the removal of tariffs of up to 10% and build on their £3.4m of exports to New Zealand in 2020.<\/p>
Further trade agreements in the pipeline include agreements with India, the US, Gulf Co-Operation Council, along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Joining CPTPP puts us into the dynamic economies of the Pacific region, with UK exports to current CPTPP countries already set to increase by 65% by 2030, equating to £37 billion for the UK as whole.<\/p>
In addition to this, we are also renegotiating FTAs with Canada and Mexico later in the year to build on our existing bilateral trade relationship with these countries. These exciting trade deals will open up new markets to Welsh businesses and create exciting new export opportunities.<\/p>
Businesses across Wales and the UK have the ability to seize the opportunities provided by these trade agreements, and the UK Government will continue to support businesses to achieve their trading potential. To support this vision, the UK Government has announced its new Export Strategy called \u2018Made in the UK, Sold to the World\u2019, with the aim of helping UK businesses hit £1 trillion in exports. This twelve-point strategy includes support for businesses through the UK Export Academy, UK Export Finance, and a new UK Tradeshow Programme, all designed to provide UK businesses with the tools they need to promote and export their products abroad, and help the UK become a nation of exporters.<\/p>
<\/p>
<\/p>
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The Welsh economy approaches its departure from the EU in a strong position. Such strength is demonstrated in Wales\u2019s ability to attract globally recognised brands such as Aston Martin and Qatar Airways.<\/p>
<\/p>
As we leave the EU we are seeking to take advantage of all opportunities available to us. We want to ensure that Britain becomes a global leader in free trade, and Ministers and officials in DIT are working with counterparts in a range of markets to promote the UK, including Wales as a great place to do business and with which to trade.<\/p>
<\/p>
The UK Government is developing a trade policy that will work for every part of the United Kingdom, and will continue to champion the interests of companies and citizens across the UK, including in Wales.<\/p>
<\/strong><\/p> <\/p>"}
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