§ Mr. Ieuan Wyn JonesTo ask the Secretary of State for Wales what research has been undertaken by his Department into the effects on the Welsh economy of the completion of the single European market in 1992; and if he will make a statement.
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§ Mr. Peter WalkerCompletion of the single European market will bring greater freedom of trade. I have not commissioned a formal study, but research from various sources has shown that this liberalisation of trade will offer great potential benefits to all nations and regions within the European Community. The effects within Wales will, however, depend very much on the response of individual businesses to the new opportunities which the single market will present. A major programme is planned to raise the awareness of industry in Wales to the opportunities and what can be done to realise them. Currently, I am in the process of writing to all exporting companies and potential exporters known to my Department—over 3,000 companies—encouraging them to respond to the challenge and sending them advice on how to do so.