A Plaid Cymru government would establish a new Overseas Trade Initiative to strengthen the export-based economy. That was the message of the party’s Shadow Economy Minister Rhun ap Iorwerth as he outlined his party’s vision to make this a vibrant part of the Welsh economy.
The Shadow Minister said that the proposed OTI would be a special purpose investment vehicle, which would proactively seek out investment opportunities and link those opportunities to Welsh expertise.
Mr ap Iorwerth highlighted figures that show that Wales’ export value has dropped by £847 million over under the current Welsh Government, and warned that a refocus is needed before the situation deteriorates any further.
The Party of Wales Shadow Economy Minister Rhun ap Iorwerth said:
“The deterioration in Wales’ output value is a real cause of concern for me, and it is something that a Plaid Cymru government would address immediately.
“The value of Wales’ exports has dropped alarmingly under this government by almost £850 million. That’s a huge drop at a time when other nations, by comparison, have managed to increase them. Blaming the recession is simply not good enough.
“That’s why we need action now. The Overseas Trade Initiative that I am announcing today would form part of the department for exports within Plaid Cymru’s new business bank and would proactively seek to link investment opportunities with Welsh talent.
“If we are to fight this decline then we need to get out there and roll our sleeves up. That’s what Plaid Cymru intends to do.”
