Expressions of interest requested for upcoming New England trade mission

The Department of Industry, Trade and Rural Development is seeking companies to participate in the province�s next trade mission to New England, which will take place from March 15-19, 2004. The trade mission is part of the province�s ongoing New England Trade and Investment Initiative.

"The New England Trade and Investment Initiative, now in its fifth year, is an important part of government�s trade and export development strategy," said Industry, Trade and Rural Development Minister Kathy Dunderdale. "By organizing these trade missions, we are helping Newfoundland and Labrador companies to enter new markets and grow their businesses."

New England is a key strategic market for Newfoundland and Labrador, particularly given the historical, cultural and business ties between the two regions. The province�s exports to the region have experienced significant growth over the past several years. In 2002, Newfoundland and Labrador companies exported more than $1 billion in goods and services to the New England area, up from $838 million in 2001.

Since the official launch of the New England Trade and Investment Initiative in 1999, there have been 10 trade missions to New England, introducing approximately 60 companies to this market. The most recent trade mission took place in October 2003 and resulted in direct sales for four companies, with future business anticipated by all participating companies.

Beginning today, advertisements will appear in newspapers across the province calling for expressions of interest from companies to participate in the upcoming trade mission. The closing date is February 9, 2004. For more information, contact Barry Snow, Trade and Investment Consultant - New England at (709) 729-3356 or BSnow@gov.nl.ca

The Department of Industry, Trade and Rural Development�s New England Trade and Investment Initiative has a focus on promoting export opportunities to and encouraging new investment from the New England states in ongoing efforts to create new jobs and wealth for Newfoundland and Labrador. To find out more about the New England Trade and Investment Initiative, visit the website at: www.newenglandbusiness.ca .

Media contact: Lynn Evans, Communications, (709) 729-4570

2004 01 28                                        10:20 a.m.