Business starts to stack up after Wales’ biggest ever trade mission
The largest international trade mission ever to leave Wales has returned home after a successful week in the United States, with some lucrative business deals already agreed and in prospect.
Over 80 Welsh companies from the technology, aerospace, defence, life sciences, security and engineering industries went on the mission to foster international corporate partnerships and promote international trade.
Meetings were lined up for the companies by International Business Wales - the Welsh Assembly Government's overseas investment arm, with a host of major organisations – including Boeing, NASA and the US department of Defence. One company has already received confirmation from the US Navy that they will be going ahead with a £500,000 deal to provide lifesaving equipment for a submarine rescue system; another has been short-listed to supply one of the world’s largest IT and automation businesses with a revolutionary ‘self-learning’ software system.
Quantum CAD, a tenant company at ECM², one of the UK’s leading specialists in full product and PCB design services made steps towards their North American expansion during the trade mission.
With the help of International Business Wales (IBW), Quantum CAD travelled to Houston to capitalize on numerous business opportunities. As Quantum CAD already has contacts in the area, they were able to increase success on the trip by teaming up with IBW to increase their network of local and international business contacts.
IBW assisted Quantum CAD in many areas of this business trip. They provided funding for travel and accommodation, market research, knowledge of local business practices and helped prearrange meetings for future business opportunities.
“We are currently involved in a number of high-value customer projects in North America that combine the complexity of multi-country activities and distance. By teaming up with International Business Wales, we were able to grow our current business relationships and generate numerous new contacts and opportunities that will not only increase our bottom line, but will lead to more job opportunities in South Wales. We look forward to joining International Business Wales again this autumn for another trip to North America” comments Steve Jones, Quantum CAD’s Managing Director.
Deputy First minister Ieuan Wyn Jones said "We are still talking to the companies that took part in the mission and I'm confident that many will be announcing new orders and distributorships in the weeks and months to come.
I know that the companies who took part appreciated the effort that the Assembly Government put into every last detail of this latest mission and I add my thanks to all involved.
Successful trade missions such as this one are not only an essential means of opening up new international business opportunities for Welsh enterprises - but they also help build Wales' profile and reputation in the most important world markets.”
Submitted: 14th September 2009