Freeports could become an important part of the British economy, a local MP has said, but could not guarantee one would be in Milford Haven.

The government announced on Monday, February 10, a consultation on Freeports - hubs where business and trade laws are different from those in the rest of the country, where goods may not attract tariffs until they leave the Freeport.

Secretary of State for Wales Simon Hart MP hopes a Freeport in Wales could boost regional economic growth.

Speaking to the Milford Mercury, during a visit to the Milford Haven Port Authority to discuss the consultation, Mr Hart said ideas like Freeports were important for the British economy so that we aren't reliant on "one industry or another".

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He said: "The Freeport concept is about long term creation of sustainable jobs.”

The Government's announcement into the Freeport consultation said they hope to reduce the cost of hiring asked how that would be achieved, Mr Hart said: "It’s a bureaucratic point, I would assume because what we don't want to do is end up with a situation where we drive down the standard of living.

“Quite the opposite, we are trying to create well paid, sustainable jobs.”

Mr Hart added that they wanted businesses to be able to hire without the “usual raft of overheads which make employment complicated."

Mr Hart said he thought the use of Freeports to trial green technologies was one of the big attractions that would allow the UK to become "pathfinders in the renewable revolution."

"It fits perfectly with the petrochemical history of this part of the world and the fact that we are looking at wave, tidal, even lagoon power around Wales in a way we didn't ten years ago.

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"The freeport concept generally is around creating opportunity, simplifying the way in which people do business. It's also incentivising, we know

"A lot of this is about a relationship with the Welsh Government, this is not solely UK Gov, it's not solely Welsh Gov.

“It's one of those areas that are a little bit complicated in the context of devolution, but both governments in this instance have a shared ambition to be at the leading edge of the renewable technology revolution."

Mr Hart added there was already renewable tech in the Haven that were ready to expand and Freeports would make that easier.

Asked how the UK will ensure Freeports don't get used for money laundering or terrorism funding, as critics like the EU have suggested, Mr Hart said: I haven't heard it referred to in the context of Freeports.

“However, that particular risk exists in a whole range of things that we do these days and I think that the counter-terrorism act of the UK is at the for front globally, I hope, will minimise, mitigate, maybe even eliminate that being a significant risk to this or any other port in Wales."

Andy Jones, CEO of the Milford Haven Port Authority, said they would be looking at the consultation in detail and talking to organisations around the waterway about bidding for a Freeport in the area.

Bombora, a marine energy company in Pembroke Dock, welcomed the Freeport consultation responded positively to the possibility of a Freeport in Pembrokeshire.

Bombora, which is constructing a wave energy converter, said it was pleased at the news, which could “drive growth and support UK businesses”.

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Managing director, Sam Leighton said: “Having a Freeport on our doorstep could be a major boost to Bombora’s expansion plans as we look to future commercial projects and developing our international portfolio.”

Mr Leighton said a Freeport could help with plans to export the “experience, knowledge and know-how built-up in our Pembrokeshire operation,” to help make the company a global marine energy solution.

He added: “Freeport status could prove to be a crucial support mechanism to secure the UK’s lead in renewable marine energy exports, helping emerging renewable energy developers like Bombora to be cost competitive in a global market place.

“Creating a Freeport in Milford Haven would support our growth plans and inevitably drive further future investment and employment opportunities in the local area.”

Mr Leighton was pleased the Port Authority had expressed an interest in the bidding process.