In a significant move to strengthen economic ties, a new initiative has been launched to ramp up trade and investment between Wales and Sweden.
Ambassador's Mission to Wales
This drive forms part of a broader UK Government strategy, where Foreign Secretary Yvette Cooper has tasked ambassadors and high commissioners with meeting businesses across the UK to help them expand into key growth markets. The latest effort saw the UK’s ambassador to Sweden, Samantha Job, undertake a two-day official visit to Wales.
During her mission, Ambassador Job focused on building vital connections with Welsh companies and promoting increased investment and trade with the Nordic nation. To date, over a dozen such roadshows have been held across the UK.
The Scale of Welsh-Swedish Trade
The economic relationship between the UK and Sweden is substantial, valued at over £36bn and supporting thousands of jobs across Wales. Sweden ranks as the UK's 13th largest trading partner.
Welsh exports play a notable role in this partnership. Last year, Wales exported goods worth nearly £330m to Sweden, accounting for 5.8% of the UK's total exports to the country. This made Sweden the ninth largest export market for Welsh goods.
Furthermore, there are around 45 Swedish-owned companies operating in Wales, which collectively employ approximately 2,700 people.
Boosting Key Sectors and Tech Growth
The ambassador's itinerary included high-level discussions with leaders from Welsh energy, defence, and life sciences businesses. She also attended Wales Tech Week for meetings with the Welsh Government.
A prominent example of Swedish investment is Stena Line. The ferry company, which operates from the Port of Holyhead, has welcomed the UK Government's announcement designating North Wales as the UK's first AI growth zone. This news follows Stena Line's own September revelation of plans for a new technology park at Prosperity Parc on Anglesey.
Another key visit was to MilDef, a Swedish military IT specialist that has established its first production facility outside Sweden at the Bro Tathan business park in the Vale of Glamorgan.
Reflecting on the visit, Ambassador Job said: “It was exciting to be in Wales to help develop the relationships that will create growth in every corner of the UK. The UK Government’s Plan for Change is making Britain the best country to do business with, and these roadshow discussions will help showcase Wales’ abundance of digital and tech strengths on the international stage.”
