Cardiff has beaten Glasgow and Dublin to be named as the host city for the world music expo WOMEX in 2013.
The event, which will take place in late October 2013, will include around 60 concerts, involving more than 300 artists, and will be accompanied by a trade fair featuring around 650 companies from more than 90 countries.
Cardiff won the right to stage the event, described by UNESCO as the most significant world music event of its kind, after a year-long selection process which saw its bid named as the best all-round offer in the race.
Performances during the expo will focus on the Wales Millennium Centre, which will host evening events, and the Motorpoint Arena, which will stage daytime showcases, the trade fair and film screenings.
This year's event was held in Copenhagen, will next year Thessaloniki in Greece will host the expo.
First Minister Carwyn Jones said: "WOMEX is a great opportunity to bring the most important world music stage to Wales as well as developing the sector in a sustainable way within our country.
"WOMEX 13 Cardiff will place the music from Wales on the world stage alongside more established markets so that Wales’ authentic music traditions become more widely known internationally and are positioned beside music from our Celtic neighbours.
"Hosting WOMEX will allow us to grow the profile of Wales's traditional music, both within and out of the country.”
The bid to host WOMEX in 2013 was led by Cerdd Cymru: Music Wales, a partnership between Welsh Music Foundation, Wales Arts International and Arts Council of Wales, with support from British Council and Welsh Government.
Dai Smith, chair of the Arts Council of Wales said: “This is a wonderful achievement for Wales.
"Persuading WOMEX to come to Wales has been a longstanding ambition for the Arts Council of Wales and our partners.
"This event, of worldwide significance, is an important part of our wider plans to develop a vibrant and exciting music industry in Wales.”
Daniela Teuber, director of production at WOMEX, added: "We're very happy that Cardiff will be hosting WOMEX in 2013.
"The city offers a most favourable setting for our complex event and its 2,500 delegates and artists from all over the globe.
"The production partners in Wales are truly professional and highly motivated. The wonderful venues are in close proximity and match our multifaceted needs. Wales has outstanding cultural wealth, hospitality and scenic beauty."