February 23, 2000
(Industry, Trade and Technology)

Seminars scheduled to help companies export to New England

Next week, the Department of Industry, Trade and Technology will host two trade seminars, one in St. John�s on February 28, and one in Gander on February 29, for companies interested in exporting to New England.

"These seminars are part of my department�s implementation of the New England Trade and Investment Strategy, which was announced last November," said Industry, Trade and Technology Minister Sandra Kelly. "The intention is to give businesses in the province a series of hands-on, useful presentations that will help them break into the lucrative New England market."

The seminars, entitled "Research and Market Entry in the New England Market" will feature a presentation by Jim Sotvedt, deputy consul general and senior trade commissioner, Canadian Consulate General in Boston. Mr. Sotvedt will discuss the services available to local companies from the consulate, and will outline some of the growth sectors in New England.

"There is strong potential for companies here in Newfoundland and Labrador to export their products and services to the New England states. The presentation is intended to give these companies a better understanding of which industries hold the best opportunities, and how the consulate can help them gain access to this market, " said Jim Sotvedt.

The seminars will also include a presentation on market research, which will be given by Hollet and Sons, and a presentation on market entry strategies by Baltic Services. Prior to the seminars, the Department of Industry, Trade and Technology placed several advertisements in local papers to inform local businesses about the seminars.

The New England Trade and Investment Strategy was introduced in order to capitalize on favorable market conditions in New England. The area is currently experiencing a high economic growth rate and unemployment rates that are lower than the national average in the United States, which are both resulting in high wage rates and a shortage of labour in many sectors. These conditions create an advantageous export market and investment opportunities for Newfoundland and Labrador because many New England companies are choosing to import goods or expand operations to other jurisdictions.

"My department�s research shows that New England has an abundance of opportunities for Newfoundland and Labrador companies. In particular, we are targeting businesses in growth areas such as biotechnology, information technology and manufacturing, among others," said Minister Kelly.

Since the New England strategy was announced last November, the department has been actively recruiting companies that wish to pursue this market more aggressively. To date, approximately 50 companies have expressed interest in increasing their presence in the New England market.

In the coming months, the department plans to continue with initiatives outlined in its New England Trade and Investment Strategy. This includes additional seminars, and participation in activities aimed at increasing trade, such as the biotechnology show, Bio 2000, being held in Boston from March 25-28. Newfoundland and Labrador will also participate in the Team Atlantic Trade Mission for the second year in a row, which will take place this May.

Media contact: Jacqueline Simon, Communications, (709) 729-0050.

2000 02 23                                                 2:45 p.m.