Wales set to get its own freeport

CONFIRMATION is expected later today following an agreement struck between the UK and Welsh governments.

With eight freeports being approved for England and a deal also struck with the Scottish Government, it is understood that the Cardiff Bay administration has secured the financial backing it was seeking for a Welsh freeport, with the potential for more than one, with the Westminster government.

Initially the UK Government had offered the Welsh Government around £8m to support setting up a freeport in Wales. Freeports in England have been offered around £25m each, with a similar funding deal secured by Nicola Sturgeon’s government with the UK Government.

It would appear that the Welsh Government’s funding position has now been met, following protracted negotiations with the UK Government’s Secretary of State for Levelling Up, Michael Gove.

Ports across Wales, including Holyhead, Milford Haven and Associated British Ports’ south Wales ports, have expressed interest to securing freeport status.

While a devolved matter, the UK Government has been consistent in wanting to see a freeport established in Wales.