North America eNewsletters

Wales, as many of you will know, is establishing a global reputation for its UAV (unmanned aerial vehicle) capabilities, with the focus on the world class resources being developed at Parc Aberporth.

When IBW sets up overseas meetings for Welsh companies with potential collaborators, it doesn’t do it alone. It has a worldwide network of ‘in-market partners’ to call on. These are established companies, often leaders in their field, who are keen to work with Welsh businesses.

Chile may lack the market size, and perhaps the big company names associated with Mexico, Brazil and Argentina. But it has significant strengths in market and political stability, a clear and open framework for investors and relatively low bureaucracy. These strengths were recognised at the end of 2009 when Chile was invited to join the OECD. It also provides an ideal platform to the region, benefiting from a wealth of Free Trade Agreements and being a popular choice for regional head-offices: “A good starting point in South America,” concludes the head of UKTI in Chile Tom Warwick, “including those with less export experience.”

Brazil’s place as being physically the largest country in South America is also emphasised by the size of its economy: it is the largest national economy in Latin America, the world's tenth largest economy at market exchange rates and the ninth largest in purchasing power parity.

The sheer size and scope of Mexico’s economy make it a nation where opportunities abound in many key sectors. Its population and economy both stand at 11th in the world and the country is expected to overtake the UK economy around 2040.

Argentina not only has one of the largest populations in South America (40 million) but also one of its largest and strongest economies with a stable currency and a relatively secure trading environment. It is a member of the G20 group and between 2004 – 2008 saw five years with consistent annual growth of between 7 and 9.2%: growth rates that few countries around the world have experienced, and all achieved within a very stable framework.

The main thrust of the articles this time around is to set out the superb opportunities that Central and South America offers ambitious British businesses – opportunities to access markets seeing real growth that we’ll be seeking to tap into when we set off on two supported trade missions to Latin America this year. The first in June will take in Brazil and Mexico, the other – scheduled for October – will see us heading further south, to Argentina and Chile.

First of all, hello again to all the many people I have met through the Washington 80 Mission. That trip certainly proved exceptionally useful to my business – not only sealing two important orders with Boeing during the US part of the trip, but also launching us into the South American marketplace. I spent four days in Brazil, providing the opportunity to set discussions going with Embraer, one of the largest aircraft manufacturers in the world.