Eastern promise
Wales Business — By Seth O Thomas on August 2, 2010 2:00 pm
Worth getting on a plane for: The PM heads for India last week
THE Prime Minister has laid down some significant markers for a new British foreign policy in the past week – markers that have implications for Wales.
The delegations to Turkey and India – David Cameron’s first major trip out of Europe, excluding the traditional post-election trip to Washington – highlight where our foreign policy is heading. The official visit to Turkey, following meetings between William Hague and the Turkish foreign minister in mid-July, was a statement of intent on three levels.
Firstly, a clear signal that the new administration realises the importance of keeping the emerging economic powers closer on areas of international affairs, such as Iran, formerly a province of the permanent security council members. Secondly, renewed support for Turkey’s accession to the European Union indicates that the UK remains prepared to engage in difficult areas of Brussels policy, as well as viewing Turkey as a natural bridge between Europe and the Islamic world. Thirdly, it shows that the Coalition regards British interests as best served by strong trading links with the new economic powers.
After all, why have one “special relationship” when you can nurture several?
And it is this latter point which is of, perhaps, greatest practical interest to us in Wales.
Trade is now back at the heart of foreign policy. This was reinforced by the large delegation of ministers and business leaders who visited India with one clear intention: to sell Britain. Businesses from aerospace to professional and financial services to technology were represented and explored trade opportunities. Of course, one delegation does not make a trade pact, and there have been similar initiatives before, but never so early in a new administration’s life. It is a serious statement of what will drive Hague’s Foreign Office over the next five years.
Together with statements around senior figures in business being considered for Ambassador-level appointments, and the requirement for government ministers to get out there and secure commercial opportunities, it is clear that pragmatic economic aims are taking centre-stage (and not to the exclusion of equally important issues) in the UK’s relations with the world.
With the encouraging Economic Renewal Programme as a starting point, Wales needs to decide how it can best work with this new emphasis on trade. The FCO is refocusing on trade, under a Foreign Secretary who knows Wales so well, and with backing from Downing Street. Here is a profound opportunity for smart Welsh policy-maker to take advantage and ensure that Wales and Welsh firms are positioned to be part of future British delegations. In parallel, despite the changes at International Business Wales, the new sectoral teams should ensure that the country is well-represented with our target markets.
There is reason to believe that the new economic policy is well-timed. It sends signals throughout the Wales about the need to work on the fundamentals, for sustainable economic prosperity ultimately drives social well-being.
Now is not the time for Wales to lose focus on our export industry, or spurn chances for wider UK trade and foreign policy to help us achieve our goals.
The recession was hard, but now is a time of opportunity for nations willing to take it. Let Wales be one of them.
Tags: economic renewal, India, Turkey
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7 Comments
Why was Wales not represented on the India trip when it has a fine relationship with the country – culturally and in business?
A good question, Cardiffian. Also, at least two of the universities – Cardiff and Swansea – have strong links with India.
We must recognise that attracting jobs is at heart of rebalancing economy. Some questions, put by Adam Breeze former head of inward investment for regeneration quango English Partnerships who wrote in Regen on reorganisation of RDAs:
“…we need to be aware of what inward investment functions do. If inward investment is being “led” nationally, who will be supporting and delivering inward investment on the ground? Local authorities? Existing sub-regional inward investment teams? Local enterprise partnerships? Does “nationally” mean UK Trade and Investment (UKTI) from Whitehall? If so, how does this fit with localism and how will this help to rebalance the economy? How will UKTI engage with the English towns and cities on inward investment? Will UKTI maintain a UK-wide remit, even though the devolved nations have their own separate inward investment functions? By “inward investment” do they mean only new, foreign investment? Who looks after the investors already here? Who encourages the expansion and reinvestment that creates thousands of new jobs? Who will work with the hundreds of major indigenous firms looking for additional facilities?”
For England see Wales…UK has a different landscape post election.You see that England had structure -let’s get on with it. here..role for new Wales Office at UK level. A seat at the Table in India would have been good. PM going to China soon.
IBW did well up to 31 March, according to UKTI figures.
Duncan, you are right. Cardiff and UWIC have a fine record. The India High Commissioner was in Cardiff in March apparently visited both fine institutions. Let’s hope we don’t mess these universities up as we have economic development in last 10 years.
Cardiffian and others,
Sitting here in Singapore this week in meetings with business leaders (and Hong Kong, SFO and Miami earlier this trip), there are signs of a robust recovery fuelled by partnerships, joint investment and pure, raw aggressively seeking opportunity when it knocks, versus studying our navels or worrying about one’s “piece” of the pie. There is more than enough to go around.
It is time Wales (and the UK) stopped talking a good game, centralising even more economic development power inside a government that couldn’t “manage a piss-up at a brewery” yet uses ‘devolution’ as a cheap magician’s misdirection tool and formed a real public/private partnership that aggressively took action vs. served up platitudes.
We have focused far too much economic effort on the golf tournament that will eat Newport in 10 weeks time and not enough on fixing a badly broken airport, firing development “black tie dinner pretenders” and getting serious about real economic development. It is refreshing to walk into a meeting of excited, ‘like thinking’ individuals and brainstorm all of the ways something could work tomorrow(!) vs. always kvetching and griping over why _______ can’t work here.
It could even be as simple as instead of replying “not so bad” to the question “you all right?” to saying “I’M GREAT! And you?”
Dennis
I agree.
I know a Welsh SME, set up four years ago, that provides technical services has this year won contracts in India and Malaysia and just received purchase orders from those two countries as well as from Ghana and PNG – all achieved without using IBW.
The business is out there, you just have to go out and get it!
Financier,
I know I will sleep well this weekend back in Wales after this safe in the knowledge that no one will hand anyone anything of lasting value in this or any economy. Whether it is monetising media on the web or partnering on business seminars, you indeed just have to go for it!
Parochial navel gazing, operating on a business strategy called “when I win the lottery”, thinking one’s business that is not generating revenue is anything other than a hobby and wishing things were different while pretending and fleecing for whatever one can get for themselves may seem to work in the short term but the long-term damage is legend.
Best,
Denis
Motto “It is that politicians have deluded sense of devolution that it will work on “automatic pilot ” but let’s not work on investment/trade let’s be busy fools-we deserve it forget the lottery, let’s explore poverty and we can do more with the begging bowl…”
Look at what is coming out of discussions…from renewal programme – this author does not read Dylan Jones Evans -or live in Wales.
Enjoy trip. Asia is flourshing…because they work at it and want investment and trade and get out of poverty -see India for that.