LAST week I addressed the European Union Cohesion Forum in Brussels in my role as Finance Minister to highlight how EU funds have benefitted the Welsh economy.

The EU’s Cohesion Policy aims to improve the economic well- being of all EU regions and in so doing, reduce disparities and make regions more competitive, fostering economic growth and creating new jobs.

Examples of the types of projects funded under this objective include supporting businesses, research and innovation, helping people into work, increasing skills, improving transport and digital networks, regenerating our communities, and enhancing our environment.

Wales is eligible for significant EU funding through Cohesion Policy and this support has already helped to create some 27,200 (gross) jobs and some 9,100 enterprises in Wales. In addition, some 180,300 people have gained qualifications and over 60,000 have been helped into work.

The Wales Coast Path, Modern Apprenticeships and the Welsh Government’s hugely successful Jobs Growth Wales programme are just some examples of how EU investments in Wales are making a positive difference to the Welsh economy -and here in the Vale of Glamorgan.

Johannes Hahn, European Commissioner for Regional Policy, said at the Forum:

"The Welsh experience is an excellent example of how the UK regions can benefit from working with EU funds to boost their potential. It is great to have Jane Hutt at the Forum: we need UK voices in all important debates in Brussels. EU funds have played a significant role in economic development in Wales. I wish to commend the Welsh authorities for their continued cooperation with the European Commission in ensuring that the new EU programmes will continue to benefit Wales and provide maximum added value and tangible results on the ground."

I was delighted to have joined this very important debate. EU funds have been and will continue to be vital for Wales, and so too is the UK and Wales’ relationship with Europe so that our businesses can thrive and our people will prosper.