Wales forges trade links with UAE

Even before being awarded devolved Government status in 1999 and then opening a regional trade and investment office in Dubai in 2004, Wales has sought to build links and business relationships with companies in the Middle East.

Recently published statistics demonstrates that Wales has been responsible for $1.8bn worth of exports to the MENA region between 1996 - 2007. In addition there is currently approximately $2,002,392 worth of trade activity currently being secured.

International Business Wales (IBW), the Welsh Assembly Government's international trade and investment arm, has played a key role in facilitating these ties and has successfully assisted 511 companies with trading activities in the Middle East since 2004.

IBW acts as the driving force in establishing alliances between companies based in Wales and their counterparts overseas, whilst actively seeking inward investment opportunities for client companies looking to Europe and the UK as a preferred international business location.

In addition to its own resources, IBW has recently accessed an additional $25m of European Union funding aimed at small to medium sized enterprises based in targeted areas of Wales, who are either first time exporters or looking to develop new international markets.

Companies assisted by IBW are part of a variety of different industries including Education, Food, Healthcare, Construction and Biotechnology and examples of these are, Cardiff University, which is linked with the British University in Dubai; Hyder Consulting, an engineering consultancy which worked on Ski Dubai and Scafftag, which supplies safety equipment to building sites.

IBW has offices all over the world including one in Dubai which is overseen by the International Business Wales Vice President (Middle East) Lee Jennings. Lee has over 20 years experience working with SME exporters.

He currently manages a network of 18 In-Market-Partners; experienced business people throughout the MENA region, who are able to provide advice, introductions and assistance under IBW's International Trade Opportunities (ITO) scheme.

The ITO scheme is primarily a way in which IBW, through its network of private sector partners, are able to identify business opportunities, find potential partners and help to match them to Welsh exporters and investors. The scheme has assisted 156 companies since October 2007 and there are 55 live ITO projects to date, generating $2,001,122 and in reality this represents nine company projects so far.

IBW continues to build relationships between the Wales and the Middle East and this is illustrated by the Trade Missions it will be running this year to Qatar and Saudi Arabia

and its presence at the large Middle Eastern trade shows Arab Health, Gulfood and Big 5.