Commons Sense

House of Commons · Ministers' Questions

Trade and Foreign Direct Investment

Wednesday 25 May 2022 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • The Wales Office works closely with the Department for International Trade to promote investment opportunities in Wales.
  • Wales has an excellent trading relationship with Brazil, exporting nearly 85 million-worth of goods and importing 165 million-worth in 2021.
  • Wales has seen 72 direct investments in the past, highlighting its attractiveness for foreign companies to invest in and create jobs.

Topics (select to filter)

Questions & Answers

Q1 Marco Longhi
Wales Business & Trade
Context

The MP is concerned about steps being taken to increase trade and foreign direct investment in Wales.

Question

What steps his Department is taking with Cabinet colleagues to help increase trade and foreign direct investment in Wales?

Answer from David Davies

The Wales Office works closely with the Department for International Trade to promote the excellent opportunities that there are to invest in Wales. Wales is an attractive destination for foreign companies to come to, to invest in and to create jobs in, as we have seen with the continued support from companies such as Airbus, which only recently announced plans to increase wing production in Broughton.

Partly answered

Not addressed: The answer does not specify concrete steps or measures taken by the Department.

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email
Q2 Marco Longhi
Wales Business & Trade
Context

The MP highlights the economic growth opportunities for both the UK and Brazil in a post-Brexit and post-pandemic environment, emphasizing Wales' role.

Question

As the trade envoy to Brazil, I see the huge economic growth opportunities for both the UK and Brazil in the post-Brexit and post-pandemic environment. Does my hon. Friend agree that, like Dudley North, Wales plays a huge part in UK plc and that therefore we want to see the Welsh dragon flying just as proudly as the Black Country flag?

Answer from David Davies

I am delighted to say that Wales has an excellent trading relationship with Brazil. In 2021, we exported nearly £85 million-worth of goods to the country, while importing £165 million-worth of goods. Wales has good trade and investment with countries across the world. We have seen 72 direct investments in the last financial year, with 1,500 jobs created. Only last week, the Secretary of State for Wales and I were with the Member for the Vale of Glamorgan looking at the new Aston Martin supercar factory in the Vale of Glamorgan.

Partly answered

Not addressed: The answer does not explicitly address the specific sentiment about Wales' role in UK plc.

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email