Team Canada Atlantic Mission scores high marks

The Team Canada Atlantic (TCA) follow-up trade mission to Chicago, Illinois, concluded today with high marks from participating companies. After three full days of meetings with potential agents, brokers, distributors, and strategic partners, the 30 Atlantic Canadian companies and organizations emerged from Chicago with solid leads for potential business partnerships and export sales.

�We can say without a doubt that returning to Chicago for a follow-up mission was the right strategy for Team Canada Atlantic,� said Joseph McGuire, Minister of the Atlantic Canada Opportunities Agency (ACOA). �Our goal was to help companies taking part build on the momentum of the first mission held in April and continue to promote Atlantic Canada as an attractive investment location. We have done what we came here to do and we remain very optimistic about the positive business relationships that have been reinforced over the last four days.�

Senator James S. Cowan took part in the mission on behalf of Minister McGuire.

�The participants from our province are looking forward to increased business and forging strong future relationships as a result of this trade mission,� said Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. �This has been a busy few days for our companies and I look forward to strengthening trade ties between the U.S. Midwest and the Province of Newfoundland and Labrador.�

During the trade mission, business delegates and officials participated in a comprehensive program that included one-on-one business meetings and several roundtable discussions.

Team Canada Atlantic companies and organizations participated in more than 189 formal business meetings with Chicago business contacts.

The mission focused on developing opportunities for enhanced export business for Atlantic Canadian companies in the areas of advanced manufacturing; agriculture, agri-food and seafood; building and construction products; consumer products; information and communications technology; and life sciences.

�The opportunities that Team Canada Atlantic presented to Dray Media have proven invaluable in our expansion efforts into the strategic American market. This has been a wonderful experience for us, and has already been a successful trip,� said Patrick Martin, Managing Director, Dray Media.

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. Ten trade missions to the New England states, Atlanta, New York, Washington D.C., and Chicago have helped 329 Atlantic Canadian entrepreneurs to meet with more than 2,750 buyers, agents and business owners from across the United States, resulting in export sales of more than of $36 million.

Visit www.teamcanadaatlantic.com for more information.

Media contact:

Val�rie Poulin, Director of Communications, Office of Joseph McGuire, Minister of the Atlantic Canada Opportunities Agency, (613) 941-7241

Etienne Allard, Senior Communications Officer, Atlantic Canada Opportunities Agency, (506) 851-2893

Lynn Evans, Director of Communications, Innovation, Trade and Rural Development, Government of Newfoundland and Labrador, (709) 729-4570, 690-6290

BACKGROUNDER

Team Canada Atlantic Tier One Mission to Chicago (April 10-14, 2005)

• 93 per cent of participants rated the mission as successful.

• 92 per cent of participants indicated that they anticipate sales over the next two years as a result of the mission.

• 89 per cent said they planned to return to Chicago to further pursue the market.

• 83 per cent indicated an interest to attend another TCA mission to the United States within the next two years.

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 11 full-time positions are sustained.

• The United States is the largest foreign investor in Canada and the most popular destination for Canadian investment.

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 center in the U.S.

• An estimated 75 per cent of the U.S. population can be reached by truck within two days from Chicago.

• 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.

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

2005 10 06                10:35 p.m.