Enterprise and Business Committee
Inquiry into the Welsh Government's approach to the promotion of trade and inward investment
Evidence from UK Trade and Investment (UKTI) – TII 07
NATIONAL ASSEMBLY FOR WALES – INTERNATIONAL TRADE & INWARD INVESTMENT
GENERAL
UK Trade and Investment (UKTI) is a joint, non-Ministerial Government Department of the Foreign and Commonwealth Office and the Department for Business, Innovation and Skills (BIS). UKTI teams support businesses throughout the UK in trading internationally and identify high value business opportunities for the UK around the world. It has over 1,200 officers in more than 160 offices in over 100 countries across the globe.
The devolved administrations and the UK Government have concurrent powers to promote international trade and inward investment. UKTI has lead UK responsibility for the provision of support and assistance to new and existing exporters of goods and services and for promoting the UK and all its constituent parts to foreign investors. The Welsh Government is responsible for devising and implementing additional programmes to meet the particular needs of local companies in Wales and for promoting Wales to foreign investors. They, rather than UKTI, deliver trade services and advice to companies in Wales.
INWARD INVESTMENT
On foreign direct investment (FDI), the relationship between UKTI and the Welsh Government is set out formally through a Memorandum of Understanding (MoU) signed in November 2012:
- The MoU sets out clearly the responsibilities for both the Welsh Government and UKTI on cooperative working and information sharing.
- The MoU has helped facilitate a step change in the delivery of FDI into Wales, resulting in more and higher quality inward investment projects through a more in-depth knowledge of the specific world class attributes that a Welsh location can offer prospective investors.
Additionally, to support the Welsh Government partnership, UKTI have over the last 15 months committed additional experienced FDI staff to support Wales.
UKTI ensures that companies are made aware of all commercially sensible location options in any part of the UK. UKTI suggests Wales as a location if it represents a sound business proposition for the potential investor. However, final location decisions are for the company to make.
UKTI-recorded FDI Successes in Wales in each of the Last 5 Years
|
Year |
No. of Projects |
|
2008/09 |
60 |
|
2009/10 |
65 |
|
2010/11 |
38 |
|
2011/12 |
23 |
|
2012/13 |
67 |
|
Total |
253 |
TRADE
Support in Wales for exports is delivered through a partnership between UKTI and the Welsh Government. This means businesses based in Wales have access to the significant expertise and global reach of UKTI and the Wales-specific focus of the Welsh Government trade and investment team.
UKTI trade services available to Welsh companies include: Overseas Market Introduction Service (OMIS), TradeShow Access Programme (TAP), Export Marketing Research Scheme, and Export Communications Review.
Full details on these and other services provided by UKTI, along with a wealth of sector and country specific information can be found on UKTI's website: www.ukti.gov.uk
OVERALL RELATIONSHIP
UKTI and the Welsh Government Trade and Investment Team have built a good working relationship following the changes made to the
their organisational structure in 2010. UK Minister for Trade and Investment Lord Green has been a regular visitor to Wales and established an excellent working relationship with Mrs Edwina Hart, the Welsh Government’s Minister for Economy, Science and Transport. We expect that strong relationship to continue with the arrival in December of Lord Livingston, who has taken over from Lord Green.
The Welsh Government also play a full role in UKTI’s International Business Development Forum (IBDF) which is main formal working level mechanism with all the Devolved Administrations on trade as well as inward investment matters. Additional they also participate in the twice yearly UKTI-Devolved Administration Chief Executives’ meetings, which meet to discuss strategic issues across the trade and investment agenda.
Overseas, the Welsh Government have representation in the US (co-located with UKTI teams in New York, Washington, Chicago and San Francisco); China (Beijing, Shanghai and Chongqing); India (Mumbai, Bangalore, and co-located with UKTI in New Delhi); Japan (1 office, Tokyo); and UAE (co-located with UKTI team in Dubai).
December 2013.