FIRST Minister Carwyn Jones will launch the Welsh Government’s vision for trade post-Brexit in Cwmbran today.

The Brexit trade paper, supported by an economic impact analysis from Cardiff Business School, argues the Welsh economy is best protected by retaining full access to the European Single Market and membership of a customs union.

According to the paper, a “hard” Brexit would have a severe on the Welsh economy and jobs.

The Welsh Government has warned that if the UK moves to World Trade Organisation (WTO) rules, the Welsh economy could shrink by between eight per cent and 10 per cent which would be the equivalent of between £1,500 and £2,000 per person in Wales.

Mr Jones, who is due to launch the document at Zodiac Aerospace in Cwmbran today, said: “The paper I am launching today is a positive vision of Wales as an outward looking, globally trading nation, open to the wider world while maintaining our strong trade with the EU.

“It sets out the need for a post-Brexit deal that enables Welsh goods to keep flowing into the EU without new obstacles or costs, whilst recognising the significant trading opportunities outside of Europe.

“I urge the UK Government to give serious consideration to our proposals and work with us to develop a post-Brexit trade policy which protects Welsh jobs and the economy.”

According to the report, the Welsh economy would be disproportionately hit by a hard Brexit and identifies the sectors most at risk from tariffs are automotive, chemicals, steel and electrical engineering, while the aerospace industry is most at risk from non-tariff barriers.

These are sectors which are amongst the most productive in Wales and provide a many highly-skilled jobs, the Welsh Government says.

The trade paper calls on the UK Government to provide evidence of how new trade deals would replace the benefits of access to the EU.

The Welsh Government also wants decisions on new trading relationships with the EU and the wider world to be taken in partnership with devolved administrations to reflect the interests of all parts of the UK.

Mr Jones added: "Welsh exports are worth £14.6 billion each year, with 61 per cent of Welsh exports and just under half of our imports going to and from the EU.

"Wales is currently attracting record levels of inward investment, which is largely due to our access to the EU’s 500 million customers.

"As our trade paper highlights, moving to WTO rules and the imposition of tariffs could have a catastrophic impact on our lamb sector and on the Welsh shellfish industry, which currently exports around 90 per cent of their produce to the EU.

"These hard facts underline what is at stake if the UK Government fails to get the right deal for the UK or we crash out of the EU without one.

"I fundamentally disagree with the Prime Minister’s well worn phrase that ‘no deal is better than a bad deal’ and believe leaving the Single Market and the customs unions would be hugely damaging for Welsh businesses and jobs."