Minister to lead delegation participating in trade mission to Boston

A delegation of Newfoundland and Labrador companies will be in Boston next week to participate in a trade mission from October 21-25, 2002. Industry, Trade and Rural Development Minister Kelvin Parsons will lead the trade mission, as part of the department�s ongoing New England Trade and Investment Initiative.

"Newfoundland and Labrador shares a common heritage with its neighbours in New England," said Minister Parsons. "This trade mission will help us to leverage those historical ties. It will also build on the success of past missions in an effort to increase trade with and investment from the New England states."

The participating companies are:

• Neptune Leatherworks, Freshwater;
• NovaLipids, St. John's;
• ACAN Windows, Paradise;
• Newfoundland Naturals, Paradise;
• Bayshore Enterprises, Salmon Cove;
• P.B.A. Industrial Supplies, Mount Pearl;
• Allstar Rebar, St. John's;
• Rodrigues Winery, Markland;
• The Genesis Centre, Memorial University of Newfoundland; and
• Co-operative Education Services Centre, Memorial University of Newfoundland.

Ron Taylor, President of Mill Pond Associates, will represent ACAN Windows on the mission to seek new export opportunities for the company. "When the company considered entering the New England market, we sought the assistance of Industry, Trade and Rural Development to help us pursue opportunities in the construction supply sector," said Mr. Taylor. "The department was able to provide matchmaking services, book meetings with prospective clients, and provide all the necessary support that would not be possible for most companies on a limited budget."

During the mission, the participating companies will attend meetings with pre-qualified business contacts to help them explore potential new export opportunities and business relationships.

"Trade and export development is an important component of government�s Renewal Strategy for Jobs and Growth. In doing this, we are helping to create new jobs at home and strengthen the overall economy in Newfoundland and Labrador," said Minister Parsons. "New England is an obvious target market for Newfoundland and Labrador. It is a geographic neighbour and its economy is experiencing considerable growth. That positive economic activity is being affected by increasing business costs and the lack of an available work force. As a result, many New England companies are choosing to import goods or expand operations to other jurisdictions. Newfoundland and Labrador is poised to capitalize on those opportunities."

To kick off the trade mission, the Ambassador Newfoundland and Labrador Program will host a reception on Monday, October 21. Members of the province�s New England Ambassador business community will be invited to meet with the trade mission delegates to discuss potential business and investment opportunities in both New England and Newfoundland and Labrador. The Ambassador Newfoundland and Labrador Program is a communications initiative designed to educate various audiences about the good things happening in our province. Ambassadors are informal representatives of the province who play an important role in promoting Newfoundland and Labrador�s success stories to the world as a means of encouraging new business investment in Newfoundland and Labrador.

As a direct result of the Department of Industry, Trade and Rural Development�s initiatives, 12 companies are currently doing business in the Boston area and others report business is forthcoming. Total reported sales to date are estimated at $57 million.

This mission is part of the on-going New England Trade and Investment Initiative organized by the Department of Industry, Trade and Rural Development. The goal of the New England Trade and Investment Initiative is to help Newfoundland and Labrador companies enhance international trading ties with the New England states, help New England companies establish a presence in Newfoundland and Labrador, and encourage investment in both markets.

Media contact: Tracy Kenney, Industry, Trade and Rural Development (709) 729-2257.

2002 10 17                                        2:35 p.m.