A multi-million pound package of support to help the Welsh food industry prepare for Brexit has been announced by First Minister of Wales, Carwyn Jones.

Through the Welsh Government’s £50million EU Transition Fund, £2.15 million will be provided to support the development of the red meat sector in Wales. The investment will support farmers to identify improvements to their businesses to help them become more competitive and in a better position to trade profitably following Brexit.

Funding will also be given to an import substitution project to help identify and secure supply chains within the UK and encourage companies based in the EU to set up operations in Wales.

Over the next two years, the fishing and aquaculture industries will receive financial support to help that sector find new markets and prepare for future trading outside the EU.

Speaking ahead of his address to the Farmer’s Union of Wales AGM in Aberystwyth this morning, the First Minister said:

“Brexit presents a series of challenges and opportunities for our agriculture and fisheries industries.  The funding I am announcing from our EU Transition Fund will provide vitally needed support. As a Government we will do all we can to help these important industries prepare for a post-Brexit world.”