Wales Secretary welcomes job growth from Israeli investment

By November 08 2016, 18:14 Latest News No Comments

alun-cairnsThis week, the Secretary of State for Wales welcomed significant Israeli investment in Wales generating jobs and business growth, and an International Trade Minister hailed Israel’s “strategically important” pharmaceutical sector.

The remarks came in response to written questions from Conservative MP Craig Williams, who asked the Secretary of State for Wales, Rt. Hon. Alun Cairns MP, “what assessment he has made of potential new investment opportunities between Wales and Israel since the Israeli business delegation visit to Wales in 2015″.

The Wales Secretary replied: “Lordan UK Ltd’s £1 million investment into Wales is an example of the new investment opportunities that have arisen since the Israeli business delegation visit to Wales in 2015, which has generated further job and business growth”.

Mr Cairns also said: “Inward investment continues to thrive in Wales. 2015/16 was the second best year on record for inward investment, with 97 new projects in Wales. These inward investment projects were from companies based in 23 countries around the world. UK Government recognises the significant value to the Welsh economy from these investments – at least £660m – creating wider economic benefits, jobs and new business opportunities for Welsh companies through supply chains”.

In a separate question, Mr Williams asked the Secretary of State for International Trade “what steps he is taking to ensure that the UK secures a trade agreement with Israel for pharmaceutical products after the UK ceases to be party to the EU-Israel mutual recognition agreement on pharmaceutical certificates”.

International Trade Minister, Mark Garnier MP, said in response that “The UK and Israel have a strong and important trading relationship and the pharmaceutical sector is strategically important for the United Kingdom. Whilst it would be wrong to set out unilateral positions at this stage, we are committed to working towards a smooth transition for businesses to minimise disruption to exports and investment as we leave the EU”.

Last week in International Trade Questions in the House of Commons, Mr Garnier hailed the UK’s “strong and important” trading relationship with Israel, announcing that the Government is in discussions to strengthen the UK-Israel relationship post-Brexit.

He highlighted the “growing relationship” between the UK and Israel, particularly in cyber security which “saw a 24% growth in exports last year”.

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