Professor Ian Hargreaves was commissioned to carry out an independent review of the creative industries following concerns from stakeholders that the assembly government was not meeting these needs.
He said in the face of economic recession the assembly government was striving to be more creative in its strategies although he said they could not create a market for products if its not there.
Assembly Economic Development Minister Andrew Davies said for too long Welsh creative talent had left Wales, and he wanted to keep it in the country and profit from it.
He highlighted the importance also of the forthcoming UNESCO Creative Economy Report, the Congress in Hangzhou, China, on culture and development and the forthcoming UN General Assembly debate on the same theme.