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Written Assembly Questions tabled on 16 February 2016 for answer on 23 February 2016

R - Signifies the Member has declared an interest.
W - Signifies that the question was tabled in Welsh.

(Self-identifying Question no. shown in brackets)

Written Questions must be tabled at least five working days before they are to be answered. In practice, Ministers aim to answer within seven/eight days but are not bound to do so. Answers are published in the language in which they are provided, with a translation into English of responses provided in Welsh.

To ask the Minister for the Economy, Science and Transport

Suzy Davies (South Wales West): Will the Minister outline the outcomes of the Welsh Government trade mission to South Korea between 7 February and 13 February 2015 both in terms of trade and foreign direct investment? (WAQ69813)

Answer received on 24 February 2016

The Minister for the Economy, Science and Transport (Edwina Hart): The trade mission was focussed on helping companies to export.  To date, the companies that went on the trade mission have confirmed new export orders worth £667,000.

 

Suzy Davies (South Wales West): Will the Minister outline what plans the Welsh Government has going forward to promote trade and foreign direct investment between Wales and South Korea and what action it is taking with UK Trade and Investment to help achieve this objective? (WAQ69814)

Answer received on 24 February 2016

Edwina Hart: We promote the benefits of South Korea, and other markets where there are Free Trade Agreements, in meetings with businesses and are actively supporting several companies to develop new business in South Korea and have connected them with UK Trade and Investment's representatives as appropriate.

 

Suzy Davies (South Wales West): Will the Minister outline what opportunities the presence of the EU–South Korea free trade agreement has opened up to the Welsh economy since coming into force in July 2011, what steps the Welsh Government has taken to exploit those opportunities? (WAQ69815)

Suzy Davies (South Wales West): Will the Minister set out to what extent the Welsh economy has so far benefited from the EU–South Korea free trade area through new trading and foreign direct investment projects? (WAQ69816)

Answer received on 24 February 2016

Edwina Hart: The removal of the majority of import duties on 1 July 2011 was of immediate benefit to Welsh companies exporting to South Korea.  The Free Trade Agreement also addresses non-tariff barriers to trade, with specific focus on the automotive, pharmaceuticals, medical devices and electronics sectors.  The businesses which won new orders as a result of the trade mission in 2014 were selling into these sectors.  We have promoted South Korea as an export market to businesses in Wales and provided information on how they can take advantage of the Free Trade Agreement. Businesses that we have supported to pursue opportunities in South Korea have secured new orders valued at almost £2.5 million.

 

Suzy Davies (South Wales West): Will the Minister outline: a) the level of imports into Wales from South Korea each year from 2010-2015 and b) the main raw materials, goods and services that comprise imports into Wales from South Korea? (WAQ69817)

Suzy Davies (South Wales West): Will the Minister outline: a) the level of exports from Wales to South Korea each year from 2010-2015; and b) the main raw materials, goods and services that comprise exports from Wales to South Korea? (WAQ69818)

Answer received on 24 February 2016

Edwina Hart: This information is available on the HMRC website (regional trade statistics data) and the values of exports from Wales to South Korea between 2010 and 2015 (up to quarter 3) are available on the StatsWales website: https://www.uktradeinfo.com/Statistics/BuildYourOwnTables/Pages/Table.aspx

https://statswales.wales.gov.uk/Catalogue/Business-Economy-and-Labour-Market/Businesses/Exports/welshexports-by-quarter-destination

 

Suzy Davies (South Wales West): Will the Minister outline: a) the level of Foreign Direct Investment from Wales into South Korea each year from 2010-2015 and b) the main types of business in South Korea to receive that foreign direct investment? (WAQ69819)

Answer received on 24 February 2016

Edwina Hart: The Welsh Government does not hold this data.

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