Welsh companies are "critical" to the UK's life sciences sector and key to Westminster's growth plans, says Trade Secretary Kemi Badenoch.
On her first visit to Wales today as Trade Secretary, Ms Badenoch is expected to praise Welsh life science firms and back them to play a pivotal role in the UK Government’s growth plans.
"Whether it is inventing new ways to combat cancer, diagnose disease or simplify surgery, Wales is critical to our life sciences sector," said Ms Badenoch.
Read more: The Welsh firms adapting and innovating in the face of the economic crisis
“Three quarters of our life sciences market is exporting to the world and with a 12,000 strong workforce covering everything from PPE production to tissue regeneration, Wales is fuelling the UK’s position as a science superpower."
On her visit, Ms Badenoch will host the Board of Trade in Cardiff and launch the board's report on how trade and investment will boost growth for the UK’s life sciences sector and the opportunities the sector offers for UK economic growth.
The UK's life sciences sector was one of five industries named in the Chancellor's Autumn Statement when he set out plans to change EU regulations.
The UK directly employs more than a quarter of a million people in the sector, with 50% of jobs located outside of London, East of England and the South East.
In Wales, life sciences companies employ around 12,500 people and generated £2.5bn in turnover in 2020 across 270 sites.
The Board of Trade is a group of leading experts appointed to advise the UK government on international trade. Its report today will call on the Department for International Trade (DIT) to encourage R&D and manufacturing, target lucrative markets, and support scaling up and levelling up across the UK to ensure businesses have access to export support.
“This new report from the Board of Trade shows why our support to SMEs across the country to export is so important and why we are committed to ensuring the UK is a world-leading destination for life sciences investment," said Ms Badenoch.
The Trade Secretary will also announce 28 leading business figures as the first "Export Champions" for Wales, Scotland and Northern Ireland. Each champion has been selected because of their international trade track record and will offer advice to UK businesses on how to break into international markets.
In Wales, the chosen export champions are:
- Paola Dyboski, Dr Zigs
- Rosie Davies, RMGroup
- Sina Yamani, Yoello
- Alison Lea-Wilson MBE, Halen Môn / Anglesey Sea Salt
- Tee Sandhu, Samosa Co
- Kamal Ali, My Salah Mat
- Stephen Davies, Penderyn
- John Pattinson, Air Covers
The Trade Secretary will then visit PCI Pharma, which recently expanded its manufacturing facility of pioneering cancer therapies in south Wales with a multi-million-pound investment.
The firm provides drug development and manufacturing services for the pharmaceutical industry. It plans to open two new facilities as part of expansion plans at its site in Tafarnaubach Industrial Estate, in Blaenau Gwent.
The expansion is expected to create up to 40 new jobs in the first year, with potential to increase its workforce going forward as the facilities scale up to allow the business to enhance its drug manufacturing operations.
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