Speech by Rt. Hon. Carwyn Jones First Minister of Wales British Irish Chamber Annual Conference 25th January 2013 – Aviva Stadium, Dublin
Good morning / Bore da. It’s a pleasure to be here in Dublin and I'd like to thank the British Irish Chamber for your kind invitation to address such an important audience and for providing an excellent forum for British/Irish business issues. Before I start I feel I must, as a proud Welsh rugby supporter, comment on our fantastic conference location here this morning. This has been the site of many a close and, indeed, nerve-wracking game between our two nations. Already we are looking forward to welcoming the Irish team and its supporters to the Millennium stadium in Cardiff on the 2nd February for what promises to be an exciting opener to this year’s 6 nations tournament. The relationship between Wales and Ireland is not only uniquely linked by geography and the Irish Sea but also by history, culture and of course important economic bonds. These long established links between our two nations continue to go from strength to strength and long may this continue. The main message I’d like to emphasize to you today, and to the world, is that Wales is ready and open to do business. Forging international links and looking outwardly for new business opportunities is vital to our
economic strength and is certainly a priority for the Welsh Government. Nowhere is there a better example of this than here in Ireland, where you have a longstanding and highly successful track record of attracting many of the major global players. Recently, the global economy has seen some tough times, including the UK and Ireland. You have had your fair share of economic challenges here, but despite this Ireland remains crucial to the Welsh economy and our economies and future prosperity are linked together. For example, Ireland is Wales' second largest exports market with the latest figures showing that £1,532 million worth of goods over the year went to Ireland from Wales. Given Ireland’s EU Presidency and the conference theme ‘Gathering for Action’, I’d like to take this opportunity to say a few words about the Single market and the importance of the EU to both our nations. In this the 20 th year of the Single Market, it is perhaps a good time to reflect on not only its successes, but also the challenges that lie ahead. All too often those who dislike the concept of the EU dominate the debate on its future. However, we shouldn’t forget the massive impact the Single Market has had. Citizens now have the capacity to travel freely, to reside and work where they wish. Young people are able to study abroad in other Member States and consumers have more choice than ever before.
The Single market has opened up access to 500 million consumers resulting in increased levels of intra-EU trade and greater foreign investment. By coming together, the EU’s Single market is the world’s largest economy in GDP terms. The lessening of barriers and restrictions has made trade a lot easier and this in turn makes Europe a highly attractive market to international investment. Wales has benefited enormously from being part of this market. We know that more than 500 firms in Wales export over £5million annually to other EU Member States with some 150,000 jobs in Wales are directly dependent on this trade. Additionally more than 450 firms from other Member States are located in Wales, employing over 50,000 people. Around 50 of these firms are Irish owned enterprises active in Wales and employing some 2,600 people. I am keen for this level of activity to grow, that is why I am here to talk to you today. Our mutual membership of the EU and the free trade framework it provides remains central for our future growth and prosperity. In Wales, we’re constantly striving to create the right environment for business – to equip the private sector in Wales with the tools to prosper in the global economy. The Welsh economy is built upon the strengths and skills of our people and natural environment; making it a great place to live and work. But then you’d expect me to say that wouldn’t you?
Expanding your business to Wales will mean you'll be in good company. We're very proud of our successful track record of attracting inward investment across sectors such as food, manufacturing, and energy. Existing Irish investors include Kingspan, Smurffit Kappa, Sisk and Glanbia to name a few; many of these investors are now on their 2nd or 3rd phase of expansion in Wales. Their presence in Wales gives them easy practical access to the wider UK economy. Wales is perfectly located – we are close to Ireland and offer great access to the UK market. Wales has a huge variety of business premises, which are very competitively priced and we’ll help you find the right property for your business. With financial support a critical factor for businesses on the move, we encourage business growth by identifying sources of support and funding in areas such as workforce development, academic collaboration and business expansion. As well as being a destination in itself, Wales gives easy access to key industry hubs in the rest of UK and further afield. Improving the capacity and reliability of the main east-west road and rail corridors in Wales continues to be a key focus. The recent announcement of the electrification of the South Wales rail line to London will bring those links even closer.
A similar case is now underway to underline the importance of modernising the North Wales rail line for economic growth and trade. The potential benefits and impact are much wider than the North Wales region alone as many of you here today will know from exporting via Holyhead port. This rail route directly links Ireland with the rest of the UK and forms part of the Euroroute to mainland Europe. The infrastructure links between Wales and Ireland are no longer confined to transport. The opening of East-West Interconnector, linking Ireland to the UK grid last year signalled the beginning of new developments in renewable electricity trade. Energy is a priority sector for us; Wales is already a net exporter of renewable energy, and we have set aspirational targets of generating twice as much energy from renewable sources as we consume by 2025. Simulating exports and attracting inward investment are central to our strategy for growth and economic renewal. As a result the Welsh Government will continue to support the development of the Single market to ensure both a level playing field and a dynamic business environment across the EU. Events in Europe continue to move swiftly and this pace of change is likely to remain with us for some time as the EU deals with a number of extremely difficult challenges, not least the major issues facing the eurozone. I see restoring fiscal and financial stability within Europe as vitally
import for Wales and discussions on EU economic policy are dominated by this issue at present. A strong EU is essential from the success of the UK. A fully engaged UK is essential to the success of the EU and with it, the future success of Wales. We will continue to influence EU decision-making through the UK Government and also by interacting directly with European institutions themselves, in Brussels and here in Dublin during the Presidency. Let me conclude by saying that despite extremely challenging times, I truly believe that by coming together under the banner of the EU and the Single Market we will come through these stormy waters. By focusing on strengthening the business relationship between our two nations we can drive recovery and accelerate growth.
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