October 1, 1999
(Industry, Trade and Technology)

Newfoundland and Labrador companies heading to Iceland

Four firms from Newfoundland and Labrador are headed to Iceland for "Canada Days in Iceland," a trade promotion event organized by the Canadian Embassy in Norway, the Department of Foreign Affairs in Ottawa, and the Canadian Consulate General in Reykjavik, Iceland.

The event runs from October 3 - 5, and its purpose is to promote awareness of the business potential of the Canada-European Free Trade Agreement with Norway, Iceland, Switzerland and Liechtenstein, which is expected to be signed within the next few months. The four companies attending from Newfoundland and Labrador, Newfoundland Containers, Newfoundland Styro Inc., Pamzo Enterprises, and Purity Factories, will be accompanied by a senior official from the Department of Industry, Trade and Technology.

"Canada Days in Iceland offers Newfoundland and Labrador a good opportunity to promote our province, and to explore new business opportunities with Iceland," said Industry, Trade and Technology Minister Sandra Kelly. "It is anticipated that when the European Free Trade Agreement is signed, it will present many business opportunities in Iceland, and other parts of Europe."

The proposed European Free Trade Agreement will be a key focus of the event, which will be attended by roughly 25 Canadian companies. Canada Days in Iceland will feature a number of information sessions and one-on-one meetings with Icelandic companies. There will be numerous presentations, including one by the Department of Industry, Trade and Technology on the benefits of doing business in Newfoundland and Labrador. In addition, there will be a presentation on the KPMG study by KPMG and Industry Canada. In 1998, St. John's ranked first in a KPMG business cost comparison study of 42 cities in seven countries. In 1999, St. John's ranked second in an expanded study of 64 cities in eight countries, just a half point behind the number one city.

The last trade mission to Iceland led by the Department of Industry, Trade and Technology was in 1997, and seven local companies participated. The trip was organized to facilitate business development opportunities between Icelandic companies and businesses in Newfoundland and Labrador. One of the companies which participated in the mission, Newfoundland Containers Ltd., has been doing business in Iceland for the past seven or eight years. Hi-Rise Maintenance and Construction, another company that attended the 1997 trade mission, has also conducted business in Iceland.

"We already have a strong cultural relationship with Iceland, which will be further enhanced by our joint Viking 1000 celebrations next year. Canada Days in Iceland gives the province a chance to participate in a national event that will enable us to continue developing the trade aspect of our relationship with Iceland," said Minister Kelly.

Media contact: Jackie Simon, Director of Communications, (709) 729-0050

1999 10 01 9:45 a.m.