Following negotiations and the signing of the UK-EU Trade and Cooperation Agreement on 24 December 2020, the UK now has a zero tariffs, zero quotas relationship with the EU as an independent trading nation. Whatever impacts this new trading relationship has on Wales, we remain open for business and will work harder than ever to be a proactive and collaborative nation - determined to maintain and evolve the European trade relationships and grow international inward investment. A number of robust measures are already in place to support and guide businesses and information is available on our Preparing Wales website and our Business Wales EU Transition Portal.
Internationally, the Welsh Government will continue to encourage trade and investment links through our expanded network of 21 international offices. The UK government has developed a tracker which can be used to obtain a personalised list of actions. The checker tool will ask questions about your business and provides all the information you need to be aware of such as new rules on:
- Importing and Exporting
- Moving goods to and from Northern Ireland including the Trader Support Service
- Travelling abroad for work
- Hiring staff from the EU
We will also continue to support Trade Missions, to ensure that our relationships with other nations and regions remain strong and continue to strengthen.
For businesses within Wales, a comprehensive range of Welsh Government support has been made available through Business Wales to help all firms to meet the challenges of the post-Brexit economic environment. Also our Business Wales Export Zone provides a wealth of information and advice about exporting. We know that the issues will differ from company to company and are therefore making every effort to ensure businesses have access to high-quality intelligence; technical information and advice.
In 2017, as a direct response to concerns facing businesses, the Welsh Government facilitated the establishment of the Development Bank of Wales’ £130 million Wales Flexible Investment Fund offering business loans of up to £5 million in a single round and repayment terms of up to 10 years.
If you have questions about establishing operations in Wales or trading with Wales – please call 03000 6 03000 or visit our contact page.