Britain

Soaring trade strengthens
links between Wales and USA

Latest figures from the UK government highlight the fact that North America remains Wales’s biggest export destination, with the value of Welsh exports across the Atlantic put at £1.3bn in 2004, more than double the trade of £583m enjoyed in 1999.

The encouraging US trade data comes at a time when Wales also sits firmly at the top of the UK export growth league table. Indeed, in the 12 months to April 2005, the total value of exports in Wales rose by 14.5% on the previous year — increasing by just over £1bn to stand at £8.3bn. These figures help cement a bilateral trade and investment performance that has witnessed almost 200 US companies, including some of the biggest names in the US, opting for a European base in Wales. The likes of Ford, Dow Corning, Texaco and General Dynamics UK are just a few of those seeing the benefits of links with a new and more diverse economy in a country that is also ideally placed to act as a launch pad for Europe.

They have been drawn by the fact that in a single generation the Welsh economy has evolved from dependence upon coal, steel and heavy industries to a much more diverse structure. It is recognised as a leading force in software, IT, New Media, semiconductors, automotive, electronics and biotechnology. It is also a centre for financial, business and professional services. What is more, a new generation of entrepreneurs is increasingly crossing new boundaries in the search for new partnerships and joint ventures.

One such partnership was agreed in January 2005, when the Welsh Assembly Government’s Minister for Enterprise, Innovation and Networks, Mr Andrew Davies, announced a £50m investment to create the Institute of Life Science (ILS) at Swansea University. Life sciences, recognised as one of the most fertile sources of technology transfer in the world, has the potential to create massive economic wealth from developments in the knowledge economy, through research, intellectual property licensing, spinout companies, inward investment, and SME support.

The ILS will become one of the world’s premier scientific and computing facilities and will host a new European Deep Computing Visualisation Centre for Medical Applications. The result of a multi-year collaboration agreement between IBM and Swansea University, the Centre will include a new IBM supercomputer — which the university has named “Blue C”. Designed to accelerate ILS programmes, “Blue C” will be one of the fastest computers in the world dedicated to life sciences research.

Looking overseas, the activities of Welsh exporters are being encouraged and supported by International Business Wales, which manages the Welsh Assembly Government’s overseas trade support service. The organisation is seen as a key link in the chain that connects like-minded individuals and international companies looking to join forces. Ian Williams, Director of International Business Wales, explains, “We will encourage exports from Wales using coordinated and tailored support, knowledge and resources — and not just to encourage exports from Wales. We see the ideal scenario as long-term relationships between businesses that will lead to joint ventures and similar partnerships.

“Any company that has ambitions to market its products needs to take advantage of the extensive and efficient services offered by International Busines Wales and its consultancy teams. Our commitment to developing commercial prospects across the globe has already led to a number of successful trade missions to the US and a proposed new series of missions in 2006 and beyond.

“This is why we already have opened offices in three major US centres — New York, San Francisco and Chicago. These offices are part of our international network, which also includes offices in Dubai, Singapore and Tokyo. In addition, our network of overseas consultants now covers more than 40 countries.”

 

Wales - Ready and waiting for the Ryder Cup

The Ryder Cup may be a full five years away from landing in Wales, but preparations are already well underway to ensure the event is one of the most successful in the history of the competition.

For success, read not only what will happen on the greens and fairways of the Celtic Manor Resort, nestling in the hills of South East Wales, but also what will take place away from the golf course. That’s because Wales is determined to grab this unique opportunity and showcase what makes this nation of fewer than 3 million people one of the most ambitious and dynamic in modern day Western Europe.

In front of the incredible global audience that the Ryder Cup attracts, Wales will ensure it will never be forgotten as a wondrous place to visit and play golf. But Wales will also ensure that its companies, old and new, use this shop window to further enhance its fastgrowing reputation as a dynamic new European economy.

The Welsh Assembly Government and the Ryder Cup Wales organisation estimate the value impact of hosting the event in Wales to be £45m in direct cash inflow, with a total spending effect of almost £67m, adding £24m to Welsh Gross Domestic Product (GDP). The total economic impact of the event could be as high as £88m, while golf-related tourism to Wales is also likely to increase in volume from 70,000 visitors to 105,000 annually by 2010. This equates to a value change from £23 million in 2004 to £38.5 million, a 9% average annual value growth.

Wales will be on show throughout the world as the TV and press media cover the event. Broadcast into 350m homes in 40 countries, it is covered by around 1,000 journalists from around the world. While the Minister believes many sectors of Wales will benefit from this multi-million pound economic boost that the Celtic Manor Resort event will bring, the Minister is also keen to ensure that niche elements of the Welsh economy are ready for the event.

One such initiative has been the launch of a new drive to help Wales’s fastgrowing golf products’ specialists get into the swing of exporting. This follows the creation of a new “golf and leisure industry cluster” of like-minded businesses that are being brought together to share skills and experiences, aimed at improving their overseas sales performance.

 

To discuss Trade and Investment opportunities, contact one of our offices in America:

New York: Christopher Williams and Mel Hiscox, International Business Wales, 21st Floor, Chrysler Building, 405 Lexington Avenue, New York NY 10174 USA - Tel: + 1 646 792 8932 E-mail: christopher.williams@wales.gsi.gov.uk or mel.hiscox@wales-uk.com

San Francisco: Dan Cecchin, 600 California Street, Suite 1590, San Francisco, CA 94108 USA - Tel: + 1 415 627 0703 E-mail: dan.cecchin@wales.gsi.gov.uk

Chicago: Geoff Harding and Anthony O’Keefe, 191 N. Wacker Drive, Suite 1685, Chicago, IL 60606. - Tel: 001 312 274 3706 E-mail: geoff.harding@wales.gsi.gov.uk or anthony.okeefe@wales-uk.com

 

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