May 27, 1999
(Industry, Trade and Technology)

The following statement was issued today by Sandra Kelly, Minister of Industry, Trade and Technology. It was also read in the House of Assembly:

I would like to bring to the attention of my honourable colleagues the results of a recent survey of the New England Trade Mission participants, which was conducted by the Atlantic Canada Opportunities Agency (ACOA).

As honourable members may recall, the province participated in this four day trade mission, along with the other Atlantic Canadian provinces, just over a month ago.

At that time, we were very pleased with how the mission went, and were confident that it would yield dividends for Newfoundland and Labrador businesses that participated.

I think it is clear from the results of this survey that our companies are indeed seeing very positive outcomes from this mission. The survey indicates that all respondents felt that the overall success of the Team Atlantic Trade Mission rated at least a four out of five.

When asked about how worthwhile the networking lunches and receptions were, nearly 80 per cent of respondents ranked the sessions as a four or five out of five.

Although these statistics indicate a successful mission, we also have concrete results that show exactly how well our businesses fared on the New England trip.

Most of the companies said that they expected immediate sales, with initial orders for all of the companies combined totalling $615,000. Over the next few years, these companies expect that amount to increase by more than $13 million in total.

These are very encouraging signs that the New England market is indeed a lucrative one. And participants have indicated that this mission was instrumental in opening doors to that market that might otherwise have remained closed.

Many of these businesses also expect to hire new staff as a result of the trade mission. In fact, the companies which were surveyed estimated that a total of 55 full-time jobs would be created as a direct result of the trade mission.

I think it is important that we recognize the importance of these trade missions. The Team Atlantic Trade Mission to New England was well planned, and focused on a market that was researched thoroughly, which has clearly paid off.

The results of this survey indicate that the mission provided valuable contacts, and proved a key way to increase business and employment for Newfoundland and Labrador companies.

Prior to going on this trade mission, I was advised that New England was an area that held great potential for Newfoundland and Labrador companies. If there were any doubts before, they have been removed by this survey.

My officials are currently working on a strategy to intensify our efforts in this market. I have sent an invitation to the Canadian Consul General in Boston for her and her staff to visit our province and to help us refine that strategy.

There will be more missions to New England, more sales, and more jobs to come.

1999 05 27         9:45 a.m.