William, the Duke of Cambridge, spoke at an event at Lancaster House in London where he was unveiled as the patron of the 2018 International Business Festival. Tony McDonough reports

Prince William has praised the “ingenuity and dynamism” of UK businesses as he was unveiled as the patron of Liverpool’s third global business festival.

William, the Duke of Cambridge, spoke at an event at Lancaster House in London where his backing for the 2018 International Business Festival was announced.

Taking place over three weeks in June, the festival follows on from the first two held in Liverpool in 2014 and 2016, and will be held at Exhibition Centre Liverpool.

The first two festivals helped generate around £600m in sales or investment for UK firms. The target for 2018 is £400m which would take the total for the three to £1bn.

Last year, buyers and investors from almost 100 countries converged on Liverpool and UK firms secured export deals of more than £87m.

In his speech announcing his patronage, William praised British business, saying that the UK’s prosperity relied on their ingenuity and dynamism.

The Duke, who has championed UK trade via the GREAT campaign in China, Japan and the US, said that as we look to the future it was important that the UK builds trading partners around the world. 

He also highlighted the positive and transformative impact of business in Liverpool – pointing to its heritage as a major international port and reputation as a centre for excellence for the knowledge economy and advanced industry.

Max Steinberg, chairman of the International Business Festival, said: “Having the Duke on board as festival patron will be a huge boost to our presence in key international markets, helping us to attract even more delegations to Liverpool next June.

“The opportunities for businesses in city region as a result will be huge, and implore them to take full advantage.”