The Provincial Government today entered into a trade alliance with the southeastern United States and provinces from central and eastern Canada. This newly-created alliance will enable Newfoundland and Labrador-based businesses to expand upon existing relationships in the United States, target new markets and explore new opportunities.

"This alliance will strengthen the presence of Newfoundland and Labrador businesses in major national and international markets," said the Honourable Danny Williams, Premier of Newfoundland and Labrador. "Participation in the alliance will enable us to explore additional trade and investment opportunities for our local businesses while promoting the province as a significant location to conduct business."

The Southeastern United States-Central and Eastern Canadian Provinces Alliance (SEUS-Canadian Provinces Alliance) offers the opportunity for businesses to increase trade, promote two-way investment and encourage technological and scientific advancements between the provinces and states. Trade is an essential component to the continued growth and diversification of Newfoundland and Labrador and participating in this alliance will allow for increased economic ties with trading partners in key international markets.

"Trade is essential to the province�s economy and creates one-in-three new jobs," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "In 2006, SEUS states represented $482 million in trade activity for the province�s business community. This alliance allows our province to further cultivate relationships and explore opportunities in these key markets."

The alliance was announced this morning at a news conference in Montreal. The alliance consists of the provinces of Newfoundland and Labrador, Prince Edward Island, New Brunswick, Nova Scotia, Manitoba, Quebec and Ontario; and the states of Georgia, South Carolina, North Carolina, Tennessee, Mississippi, and Alabama. It is intended that the alliance will meet annually in conference with the participation of business leaders, alternating venues between the United States and Canada.

The Department of Innovation, Trade and Rural Development facilitates new business partnerships, increases trade and investment and builds strategic alliances between the province�s business community and companies in key markets.

-30-