The following statement was issued today by Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. It was also read in the House of Assembly:

Last week I had the honour of accompanying 12 Newfoundland and Labrador companies on a Team Canada Atlantic trade mission to Chicago. The companies represented a wide variety of industrial sectors and, I am pleased to say, came from all over Newfoundland and Labrador.

The companies that participated in the trade mission include: Labrador Preserves of Forteau;
TUC (Torngat Ujaganniavingit Corporation) of Nain; Wholesome Dairy Ltd. of Stephenville; Terra Nova Industries Ltd. of Glovertown; Compusult Ltd. of Mount Pearl; and from St. John�s, iDance, Meditrain, Nearshore Atlantic, Systems �N� Solutions Ltd., thedog8it!, Unity Bay Energy Ltd. and Verafin Inc.

I would like to welcome Mr. Dave Cowan and Mr. Bill Burton of Meditrain, who are seated in the gallery today.

This was the first visit to the Chicago area for most of these companies. While in Chicago, the companies had one-on-one meetings with potential customers from the Tri-State area of Illinois, Wisconsin and Missouri.

The companies attended sessions and events with key Chicago decision-makers who shared valuable information for understanding the Tri-State market, information which is critical if our companies are to successfully compete in that market.

And while the Newfoundland and Labrador companies gained greater understanding of the Tri-State market, they were also tremendous ambassadors for our province. Individually and collectively, they raised awareness among American business people about Newfoundland and Labrador, and the benefits of doing business with Newfoundland and Labrador companies.

I am pleased with the work done and the progress made by our companies on this mission. The contacts made and the market intelligence gathered will be extremely valuable to the companies as they further pursue opportunities in this market.

With over 23 million people in the tri-state area, and less than one per cent of Newfoundland and Labrador�s U.S. exports going to that region, the federal-provincial partners of Team Canada Atlantic believe this area represents a huge untapped market for our companies.

Approximately 95 per cent of businesses in Newfoundland and Labrador are small businesses. This government recognizes the significant role small businesses play in our economy, and is providing an array of tools to support their development and growth, including a $10 million revolving fund announced in the budget, access to venture capital and the opportunity to participate in trade missions.

I am confident this recent trade mission will prove to be successful for the companies who participated and I look forward to continuing to work with them in the future.

2005 04 18 1:50 p.m.