Trade and Foreign Direct Investment

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

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.

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?

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.