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NLIS 6 October 31, 2002 (Industry, Trade and Rural Development) Provincial companies to
participate on follow-up A delegation of 10 Newfoundland and Labrador companies will participate in an upcoming Team Canada Atlantic trade mission to New York City from November 5-7. The announcement was made today by Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA), and Kelvin Parsons, Minister of Industry, Trade and Rural Development. "Facilitating export development for our Atlantic entrepreneurs is a key strategic priority for the Atlantic Canada Opportunities Agency," stated Minister Byrne. "The exchange of knowledge and the practical information gathered in the previous mission to New York have provided invaluable skills to our participating business leaders. When we were in New York in May, we experienced tremendous success. I�m heading this mission up because I recognize the importance of ongoing dialogue to help capitalize on opportunities identified." "I anticipate that this follow-up trade mission to New York City will prove as successful as our previous mission to New York this past May and will lead to further opportunities for export growth and economic development in our province," Minister Parsons said. "We are pleased to support the efforts of companies in the province through initiatives such as this mission and are confident we will see continued success in this key market." Minister Parsons will be represented on the mission by George Sweeney, Parliamentary Secretary to the Minister of Industry, Trade and Rural Development for Information and Advanced Technologies. Participating Newfoundland and Labrador companies include: Fortrex Manufacturing Ltd. (Corner Brook), thedog8it! (St. John�s), Infotech Canada (St. John�s), Murray Enterprises (St. John�s), Network Newfoundland and Labrador (St. John�s), Rodrigues Winery (Markland), Red Ochre Productions (St. John's), Consilient Technologies (St. John�s), Deep Atlantic Sea Products (St. John�s), and Canadian Iceberg Vodka (St. John�s). Based on the results from the last trade mission, the Atlantic Canadian companies on this trip have a high chance for success. Surveys conducted after the May mission show that long-term sales, over the next two years, are estimated at just over $40 million, of which $23 million is expected to be realized by Newfoundland and Labrador based companies. It is projected that an additional 140 new jobs will be generated across Atlantic Canada over the same period from these sales contracts, of which 33 are expected to be created in this province. The Newfoundland and Labrador food and beverage companies that are represented on the mission will also be exhibiting their products at the Taste of Atlantic Canada Showcase, which will be attended by representatives of the food service and retail industry of New York. The goal of the New York trade mission is to create new business partnerships, increase trade and investment, and build strategic alliances between Atlantic Canadian and northeast United States companies. With a population of 21 million people, metro New York City is the largest urban centre in the United States. The tri-state (New York, New Jersey and Connecticut) marketplace has a population roughly equivalent to Canada, but with a gross domestic product (GDP) nearly 50 per cent larger. Canadian exports to this region exceed $32 billion of the $239 billion exported to all of the U.S. each year. Roughly one-quarter of major U.S. corporations are headquartered in the tri-state area including 97 of the Fortune 500. Newfoundland and Labrador�s exports to New York State have increased significantly in recent years, rising from over $25 million in 1999 to in excess of $90 million in 2001. Chief exports have included non-crude petroleum oils, frozen crab, lumber and newsprint. The Team Canada Atlantic Mission to New York City is organized by the Atlantic Canada Opportunities Agency, the provinces of Newfoundland and Labrador, New Brunswick, Nova Scotia, and Prince Edward Island, the Departments of Foreign Affairs and International Trade, and Industry Canada and the Canadian Manufacturers and Exporters. Further information is available online at: //www.teamcanadaatlantic.com. Media contact:
2002 10 31 4:45 p.m. |
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