Local organizations sign deals in Beijing during Team Canada mission

Sandra C. Kelly, on behalf of Premier Roger Grimes, participated in the signing of several deals between Newfoundland and Labrador and Chinese companies at the Team Canada commercial contracts signing ceremony in Beijing today. Ms. Kelly, along with a delegation of 10 Newfoundland and Labrador businesses, traveled to China with the Prime Minister last week.

The first contract signed was between Victory Beverages Inc., a joint venture between Newfoundland and Chinese business interests, and World Marketing of St. John�s and Work Marketing Zone Ltd., a British company. The memorandum of understanding (MOU) will facilitate the establishment of an apple juice concentrate blending facility in Argentia, which will blend juice concentrates from China for export mainly to the United States.

The estimated capital investment for the project is in excess of one million dollars and the project is expected to create 40 full-time jobs in the area. Victory Beverages Inc. is the majority shareholder in the project. It is anticipated that construction of the facility will begin in early 2002.

Another MOU signed in Beijing was between the Department of Industry, Trade and Rural Development and the Beijing Federation of Industry and Commerce. This deal will foster and promote private sector international trade and foreign investment, and will promote industrial cooperation within the respective jurisdictions. The sectors on which the MOU will focus include education, manufacturing, biotechnology, information technology and environmental industries. The Beijing Federation of Industry and Commerce plans to visit Newfoundland and Labrador to identify potential business opportunities in these sectors.

As well, Academy Canada of Corner Brook signed a cooperative agreement with the Beijing Institute of Tourism to establish a post-secondary Travel, Tourism and Hospitality Training Centre in China. The four-year program begins with one year of English as a Second Language (ESL) and ends with a final year of study at Academy Canada�s campus in Corner Brook. Graduates of the program will receive an internationally-recognized diploma.

"I was pleased to participate in the signing of these important contracts," said Ms. Kelly. "This is another example of the benefits which can result from our strong relationship with China. The potential for continued cooperation and economic benefit in these areas is quite significant and I look forward to a long and prosperous relationship between our jurisdictions."

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

2001 02 13                                                              2:55 p.m.