(6 years, 12 months ago)
Commons ChamberThe Department for International Trade has overall responsibility for both inward direct investment into the UK from abroad and outward direct investment from the UK to markets overseas. Officials in my Department and the Department for Business, Energy and Industrial Strategy have numerous discussions on how we can support our businesses. DIT is currently undertaking an export strategy to better understand the needs of businesses seeking to export, as well as identifying those opportunities via the GREAT.gov.uk website.
Exporting manufacturing businesses in north Wales such as Magellan Aerospace and Airbus are world-beating organisations, but they desperately need infrastructure, investment and support from the Government to face the challenges ahead. Why are this Government so reluctant to invest in and support north Wales?
I believe that a north Wales growth deal was announced in the Budget. It is also important to remember that the industrial strategy will be announced next week. That will talk about exactly how we can improve the infrastructure to support the great businesses in north Wales that the hon. Gentleman represents very well.
(8 years, 2 months ago)
Commons ChamberAs my hon. Friend will have heard from an earlier question, the Commonwealth is made up of a very diverse set of economies, so there will not be one, single trade negotiation. We are already enjoying excellent trade relationships with our 52 Commonwealth partners and we are committed to strengthening those further. One example of this is that the UK is co-hosting with Malta the inaugural Commonwealth Trade Ministers meeting in London in March 2017, which will be an excellent opportunity to promote greater trade and investment within the Commonwealth.
The Indian company Wockhardt exports from Wrexham pharmaceuticals to the rest of the world, including to the European Union. What comfort can the Minister give that the important regulation that exists in the single market will continue for that company in the post-Brexit world?
As my right hon. Friend the Secretary of State said a little earlier, we are reluctant to give a running commentary on how negotiations and where ideas are going to go, but I assure the hon. Gentleman that we are incredibly keen to recognise the important contribution to the British economy that international companies are making when they invest in the UK, such as the company he mentions investing from India.