Companies heading to Boston to participate in New England trade mission

Industry, Trade and Rural Development Minister Judy Foote today announced that a delegation of Newfoundland and Labrador companies will participate in a trade mission to Boston, Massachusetts from October 6-10. The delegation is being organized by the Department of Industry, Trade and Rural Development�s New England Trade and Investment Initiative, in a continuing effort to support export development and business growth in the province.

"The Renewal Strategy for Jobs and Growth identified the critical importance of trade and export development as a means of creating new jobs and diversifying the economy of Newfoundland and Labrador," said Industry, Trade and Rural Development Minister Judy Foote. "This plan is working. Newfoundland and Labrador�s exports have tripled since 1992, reaching $9.9 billion in 2002. The upcoming trade mission will build on this momentum and provide participating companies with a valuable opportunity to access new markets in the New England area."

The trade mission will include the following companies:

• Broad Cove Specialties Inc. (The Spice Barn), Portugal Cove-St. Phillips;
• Dash5 Design, Clarenville;
• Dray Inc., St. John�s;
• Faculty of Medicine at Memorial University, St. John�s;
• Geange�s Manufacturing and Sales Limited, Glenwood;
• Hygenitek Inc., Trepassey;
• Systems �N� Solutions Limited, St. John�s;
• Newfoundland and Labrador Chamber of Commerce, St. John�s;
• thedog8it!, St. John�s; and,
• The Genesis Centre, St. John�s.

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

Adam Harnett, CEO of Dash5 Design and winner of the 2003 Community Economic Development Award for Excellence in Youth Leadership that was presented during RuralEXPO 2003 on September 26 said, "Exporting makes good business sense because it opens up new opportunities for my business, and this trade mission is an ideal way to explore new markets in the Boston area. The Department of Industry, Trade and Rural Development has helped me establish key meetings and industry contacts before heading to Boston, which creates even greater potential for a successful mission."

"New England is a key strategic market for Newfoundland and Labrador, particularly given the historical, cultural and business ties between our two regions," said Minister Foote. "The province�s exports to the region have grown significantly in recent years, with Newfoundland and Labrador companies exporting more than $1 billion in goods and services to the New England area in 2002, up from $838 million in 2001."

The Department of Industry, Trade and Rural Development�s New England Trade and Investment Initiative promotes export opportunities and new investment in the New England states. Since the launch of the Initiative in 1999, there have been nine trade missions to New England, introducing approximately 50 companies to this market. To find out more about the New England Trade and Investment Initiative, visit its website at: www.newenglandbusiness.ca .

Media contact: Tracy Kenney, Communications, (709) 729-2257

2003 10 01                                       10:25 a.m.