Innovation, Trade and Rural Development
May 22, 2008

I rise in this Honourable House today to report on the latest trade initiative of the Provincial Government.

Newfoundland and Labrador is home to dynamic business and academic communities. In markets around the world, our companies and institutions are earning a reputation for excellence and innovation.

To facilitate continued growth, it is essential that we have the necessary infrastructure in place to position the province on the global stage and enable our businesses to grow and succeed.

Trade is a very large and very important part of our provincial economy. Newfoundland and Labrador ranks third in Canada for exports per capita. We rank higher than any other Atlantic province, higher than Ontario, higher than Quebec, and higher than British Columbia.

To help open new doors and opportunities for our businesses and institutions, we have signed Memorandums of Understanding with the State of Rhode Island, Ireland, and, most recently, Iceland.

These MOUs have fostered positive working relationships - relationships that have enabled our business and academic institutions to target new markets and explore new opportunities.

In fall 2007, we also entered into the Southeastern United States-Central and Eastern Canadian Provinces Alliance (SEUS-Canadian Provinces Alliance).

The objective of the alliance is to present opportunities for businesses to enhance commercial exchanges, promote two-way investment, and encourage technological linkages between provinces and states.

More importantly, it creates opportunity and eliminates any potential barriers to entry for locally produced goods and services. In 2006, the SEUS states represented $482 million in trade activity to the province.

The alliance will meet annually and alternate between countries with the first meeting scheduled next month in Georgia. I am happy to report to the House of Assembly today that St. John�s has been selected as the site of the 2009 meeting.

The conference will attract between 300-400 distinguished guests including premiers, governors, industry leaders, and company executives. Throughout the conference, businesses will connect with businesses; local businesses will be able to meet directly with key audiences; and site visits will be coordinated for visitors to view the province�s world-class facilities and see first-hand the depth of opportunities in Newfoundland and Labrador.

The Provincial Government is a committed partner to improving the province�s trade and export development opportunities. The 2009 meeting of the alliance marks an exciting opportunity for the province�s innovative enterprises to grow their business with our trading partners to the south.

2005 05 22                                               2:00 p.m.