3rd July 2025

UK Government’s Trade Strategy: A Welsh Life Science Perspective

UK Government’s new trade strategy – Statement from Gwyn Tudor, Chief Executive, MediWales the life science network for Wales

“The life sciences sector, including medical technology, diagnostics, pharmaceuticals, and digital health solutions, operates in inherently global markets. Success in this sector depends on our ability to trade, collaborate, and compete internationally.

The UK Government’s new trade strategy recognises the importance of supporting high-growth, innovative industries like life sciences. The strategy’s commitment to expanding UK Export Finance from £60  billion to £80 billion and introducing the Small Exports Builder will provide vital support to help life science businesses scale internationally and secure global contracts.

The creation of the £5 billion Ricardo Fund is particularly significant. Companies developing and delivering innovative life sciences products face considerable challenges in navigating complex overseas regulatory regimes, and this type of targeted support will help them overcome those barriers and succeed in global markets.

The strategy’s focus on improving regulatory cooperation and delivering smarter, more agile trade agreements directly addresses some of the key issues faced by life science exporters. Welsh businesses developing and manufacturing life-changing technologies need rapid, frictionless access to international markets, and this approach will help them achieve that.

Stronger trade defence measures that will help protect UK-based manufacturing from unfair competition—essential for safeguarding investment and supporting domestic growth.

With a vibrant life sciences community delivering world-class diagnostics, medtech, and advanced therapeutics, Wales is well-placed to benefit from this strategy. By working closely with UK and devolved partners, we can ensure that Welsh life science businesses fully leverage these opportunities to drive innovation, export success, and improved health outcomes in Wales and around the world.”