Increase in Welsh exports welcomed

All the latest business matters from the Assembly from public affairs consultancy Deryn

NEWS that Welsh exports increased by 18% over the year has been welcomed by Economy Secretary Ken Skates.

The latest published figures show that Welsh exports to EU countries increased by nearly £1.3bn or 15.4% over the year – accounting for 59.8% of total Welsh exports. Exports to non-EU countries were also up by £1.1bn or 21.2% over the same period.

Mr Skates congratulated Welsh companies on their success, and urged more companies to get in touch with the Welsh Government for support in terms of building up the export arm area of their operations.

At the Assembly this week, the political fallout from the Welsh Government’s decision not to back the Circuit of Wales continued, with Mr Skates coming under ongoing pressure from Plaid Cymru’s Adam Price. The Cabinet Secretary robustly defended his position and questioned the opposition AM’s commitment to the project.

The Welsh Government, in partnership with Innovate UK, has given £250,000 to four Welsh companies to fund the research and development of food and drink solutions to help tackle childhood obesity.

The companies were invited to submit solutions which focus on reducing levels of salt, sugar and saturated fat as well as increasing the levels of vitamins, minerals and fibre provided in food and drink for children. The funding has been provided through the Small Business Research Initiative (SBRI) and is to combat the significant impact obesity has on the economy.

In employment news, the Welsh Government has given backing to financial services recruitment company Hamlyn Williams, which is creating 100 graduate jobs in Cardiff. The company, which will be based in Capital Tower, already has offices in London, New York, Hong Kong and Dubai, and has chosen Cardiff as its newest location.

Skills Minister Julie James highlighted that Knowledge Transfer Partnerships (KTPs) are helping businesses by improving their competitiveness and productivity.

Speaking at an event earlier this week to celebrate Wales’ successes with the programme, she said there have been 90 completed KTPs in the past three years, which have led to more than 150 jobs.