Written Statement: UK Trade Strategy

I welcome the UK Trade Strategy, published on 26 June, and recognise its potential to maximise trade opportunities to support economic growth in Wales. 

I am supportive of the Strategy's focus on reducing the burden on businesses trading internationally, and its ambition to adopt a more strategic approach to the UK's engagement with global markets.

I am clear that removing barriers to trade and unlocking opportunities for Welsh businesses in key export markets is essential to boosting productivity, raising living standards, and delivering inclusive economic growth. We have our own excellent business support programmes, including comprehensive support for businesses in Wales to develop their exports. Through our Export Action Plan, we are supporting businesses across Wales to take up exporting, build their export capability, identify new overseas customers and get to overseas markets. We will continue to work with the UK Government to support businesses to trade internationally and ensure that the implementation of the Strategy complements our support.

The Strategy must be responsive to the needs of Welsh businesses and reflect the devolved context in which trade policy operates. To that end, I am pleased to see the Strategy’s commitment to upgrading the UK’s trade defence toolkit to confront the growing threat of protectionism, tackling trade-distorting practices such as dumping, with a broader and more assertive definition of unfair trading, joining the Pan-European-Mediterranean (PEM) Convention, and overhauling the UK’s trade remedies system to ensure it is accessible, agile and effective. I look forward to engaging with the UK Government on this work. 

I also welcome the practical support measures outlined, including the expansion of UK Export Finance (UKEF) capacity from £60bn to £80bn, with improved accessibility for Welsh exporters, a modernised, digital-first export support service to simplify guidance and improve user experience, and the piloting of Digital Trade Corridors with leading European markets to streamline border processes.

The Welsh Government has consistently advocated for a trade agenda that is not only free but also fair, accountable and rules based. I therefore support the Strategy’s commitment to reviewing the UK’s approach to responsible business conduct, with a focus on global supply chains and working with international partners to develop ambitious plurilateral agreements that strengthen the multilateral trading system.

The Welsh Government’s approach to trade policy is underpinned by our ambition to increase prosperity in Wales, our values, our wider commitments to sustainability and our responsibilities through the Well-being of Future Generations Act. This includes growing our economy sustainably, enhancing exports and attracting inward investment, acting as a responsible nation on the global stage, respecting and protecting human rights, taking action to respond to the global climate emergency and safeguarding our valued public services. 

I will continue to engage constructively with the UK Government to ensure that the Strategy delivers for Wales and that devolved interests are fully considered in the implementation of trade policy, and to ensure that trade policy supports our shared goals of sustainable economic growth, environmental stewardship, and social justice.