Press release: Alun Cairns to lead Wales-Asia trade and investment charge

The UK-Hong Kong trade and investment relationship can only go from strength to strength Welsh Secretary Alun Cairns will say as he attends a showcase of the best of British innovation in Asia at the GREAT Festival of Innovation in Hong Kong this week (21-24 March).

Organised by the UK Government as part of its GREAT campaign, the festival will show how new technology could change the way we work, learn and play in the future.

It will also provide a fantastic opportunity for the very best British and Asian innovators to create new trade links and strengthen existing relationships with hundreds of international business leaders and investors.

During his visit, Alun Cairns will deliver a keynote speech to an audience of 300 businesses on the important role innovation will have to play in Britain’s future global trading success.

He will also have bilateral meetings with representatives from businesses including BT, Detroit Electrical and Sanpower before hosting a gathering of business representatives from Hong Kong’s St David’s Society.

Alun Cairns, who will join the Secretary of State for International Trade Liam Fox at the Festival, said:

There is no mistaking the importance of Hong Kong to Britain. This remarkable corner of the world is the UK’s second largest trading partner in Asia. And as one of our most important foreign direct investors, it is a partnership that creates thousands of jobs and supports families across the UK.

And it is part of an Asian market that presents so many opportunities for Welsh businesses to grow and to find new customers outside of the EU. I’m looking forward to exploring those opportunities out there, to build on this important relationship and help to create more investment and exporting opportunities for companies from both territories.

Several hundred of the UK’s most creative businesses and institutions will attend, including businesses from Wales – each experiencing a packed programme examining how innovation and technology can be a key influencer in our future trade and investment relationships with Asia.

One of the companies heading to Hong Kong with be Cardiff based IQE – the leading global supplier of advanced semiconductor wafer products and services, and a leading partner in the compound semiconductor cluster backed by the £1.2billion City Deal for the Cardiff Capital Region.

During the Festival, they will have a unique opportunity to meet potential new business partners whilst also further raising its profile across a wider network including government agencies and the investment community.
Joining IQE as part of the travelling Welsh contingent will be Hydro Industries, Snowdonia Cheese company and CS Catapult – each making a significant contribution to the value of Welsh exports which totalled £16.4 billion last year – an increase of 12.3% on the previous year.

Yet Alun Cairns will say that there is huge scope for more Welsh businesses to reach new customers in the wake of EU exit by meeting the huge demand for UK goods and services overseas.

He added:

The GREAT Festival of Innovation will show that the connections that we have around the world can become more varied, become stronger and become more enticing as we leave the EU.

I have no doubt that the next four days will help to open the doors for Welsh businesses looking to seek out opportunities to expand and thrive in international markets.

Wales has some fantastic businesses who have experienced significant success when taking their products around the world. I hope they can be a source of inspiration to others and that this trade mission helps foster new relationships that Welsh businesses can capitalise upon in the future.

ENDS

NOTES TO EDITORS

The GREAT Festival of Innovation

The Great Festival of Innovation Hong Kong will be the third of its kind, following successful events in Istanbul (2014) and Shanghai (2015). Its vision is to create long-term partnerships that drive the future of free trade and prosperity between the UK and Asia.
Several hundred invited delegates will attend the Hong Kong event, which takes place at the Asia Society Hong Kong Centre and will feature more than 60 panels and events over its 4 days. For more information, please visit great.gov.uk/innovation or follow the hashtag #GREATinnovation.

The E-Exporting Programme

DIT’s E-Exporting Programme helps UK companies to accelerate their global growth through e-commerce. The programme provides access to the Selling Online Overseas tool on great.gov.uk. It’s a free-to-use, online service that allows businesses to click, connect, prepare and sell on global marketplaces such as MyMM, Goxip and ttHigo. The tool provides access to discounts and benefits, including reduced commissions and special marketing packages.

The Department for International Trade

The UK’s Department for International Trade (DIT) has overall responsibility for promoting UK trade across the world and attracting foreign investment to our economy. We are a specialised government body with responsibility for negotiating international trade policy, supporting business, as well as delivering an outward-looking trade diplomacy strategy.

The GREAT Campaign

The GREAT Britain campaign is the government’s most ambitious international marketing campaign ever, and showcases the very best of what Britain has to offer. It aims to encourage audiences to visit, study, invest in and do business with the UK, generating jobs and growth at home. The campaign has delivered £2.7 billion of benefit to the UK economy to date, with a further £2.6 billion in the pipeline and has been commended by the National Audit Office.