Team Canada Atlantic wraps up first day in Chicago

According to the Team Canada Atlantic delegation, Chicago is living up to its reputation as a "city that works" by providing a busy first day of meetings during its first official trade mission to "The Windy City." The Team Canada Atlantic delegation is in Chicago until Thursday, April 14.

"The TCA delegation has had some great meetings and discussions with Chicago area business and industry leaders," said Joseph McGuire, Minister of the Atlantic Canada Opportunities Agency (ACOA). "The feedback we�ve received indicates that the potential for investment, export and partnering opportunities is significant."

Senator Marilyn Trenholme Counsell is taking part in the mission on behalf of Minister McGuire.

"Our businesses spent a busy first day in Chicago," said Kathy Dunderdale, Newfoundland and Labrador Minister of Innovation, Trade and Rural Development. "The meetings so far have been encouraging and our companies hope to establish productive and worthwhile business ties to companies in the Chicago area."

During this first day, representatives from 45 Atlantic Canadian companies and business organizations met with potential agents, brokers, distributors, and strategic partners.

Other events included information sessions on doing business in the U.S., a networking luncheon with World Trade Center Chicago (WTCC) member companies and a panel discussion on investment in Atlantic Canada and the U.S. Midwest.

Team Canada Atlantic is a partnership of ACOA, Agriculture and Agri-Food Canada, Industry Canada, Foreign Affairs Canada, International Trade Canada and the four Atlantic provinces. Team Canada Atlantic is committed to strengthening the trade and investment relationship between Atlantic Canada and the United States.

Trade missions have been at the core of the Team Canada Atlantic approach since 1999. Nine trade missions to the New England states, Atlanta, New York, and Washington have helped more than 300 Atlantic Canadian entrepreneurs to meet with nearly 2,500 buyers, agents and business owners from across the United States, resulting in export sales in excess of $35 million.

Visit www.teamcanadaatlantic.com for more information.

Media contact:

Valerie Poulin
Director of Communications
Office of Joseph McGuire
Minister of the Atlantic Canada Opportunities Agency
(613) 941-7241

Tracy Kenney
Senior Communications Officer
Atlantic Canada Opportunities Agency
(506) 851-2639

Lynn Evans
Director of Communications
Innovation, Trade and Rural Development
Government of Newfoundland and Labrador
(709) 729-4570


ADDITIONAL BACKGROUND INFORMATION

Trade and Investment

• Canada and the United States share the world�s largest and most comprehensive trading relationship, which supports more than two million jobs in both countries.
   
• Approximately C$1.8 billion in trade crosses the Canada-U.S. border every single day.
   
• More than 80 per cent of Atlantic Canada exports are destined for U.S. markets. Exports create one out of every three new jobs in Atlantic Canada, and for every $1 million in exports, eight to eleven full-time positions are sustained.
   
• The United States is the largest foreign investor in Canada and the most popular destination for Canadian investment.
   
• Atlantic Canada exports to the U.S. Midwest valued at $416 million in 2003, accounting for approximately three per cent of Atlantic Canada�s total export market to the United States.

Chicago

• Chicago is the third largest metropolitan area in the United States. It is home to more than eight million people and 200,000 businesses.
   
• Chicago�s main industries are financial services, transportation, business services, government services, technology and retail.
   
• Chicago is home to numerous Fortune 500 firms such as Boeing, Sears, Deere & Co., Motorola, Allstate Corp., Caterpillar and United Airlines.
   
• Chicago has two airports which process 83 million passengers a year. In addition, Chicago is home to the largest rail centre in the US.
   
• An estimated 75 per cent of the U.S. population can be reached by truck within two days from Chicago.
   
• Known as the meeting place for the U.S., Chicago has an abundance of meeting facilities and hosts many conventions and trade shows each year.
   
• In 2003, Atlantic Canada sold $255 million worth of goods to Illinois, $30 million to Missouri and $131 million to Wisconsin for a total of $416 million for the U.S. Midwest.
   
• Chicago is home to the Consulate General of Canada responsible for Illinois, Missouri and Wisconsin.
   

Sources: Trade Data Online (strategis.ic.gc.ca), InfoExport, the Canadian Consulate General in Chicago and World Business Chicago (worldbusinesschicago.com)

2005 04 12                      2:40 p.m.