News Releases
Government Home Search Sitemap Contact Us  

Innovation, Trade and Rural Development
June 3, 2010

The following statement was given today in the House of Assembly by the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development:

MOUs Leading to Stronger Relationships

Establishing formal trade linkages through Memoranda of Understanding (MOUs) creates a solid foundation to advance trade activity. MOUs provide the platform for partners to learn more about one another; how they can better work together; and how they can collectively better advance their interests.

In essence, they plant the seed to grow new opportunities.

As a government, we recognize their significance. We view MOUs as a valuable means of creating an environment for increased linkages and to opening trade corridors — not trade solely from a goods and services perspective but also in knowledge and experience.

Our approach to forming these agreements has targeted those jurisdictions where we share a common bond.

In particular, our historical ties and relationship with the Atlantic Ocean led to increasingly valuable and productive agreements with the State of Rhode Island and Republic of Ireland. The value of which was highlighted at last week's OceanTech Expo in Rhode Island.

Based on the spirit and intent of these MOUs, representatives from this province's ocean technology sector were joined last week by Ireland's Marine Institute to showcase their capabilities and excellence to international audiences.

This marks an important step in positioning the province as the agent for greater ocean-related activities in the North Atlantic. By building relationships between Newfoundland and Labrador, Ireland, and New England we are working to advance applied ocean research projects, business partnerships, and trade development.

Participants in the four day mission included AMEC, Compusult, Marport, Oceanic Consulting, PanGeo Subsea, the Fisheries and Marine Institute of Memorial University, and the Marine Institute Ireland. While in Rhode Island the delegation also marketed their products and strengthened relationships in a variety of areas including military, energy, academic research, and boating.

Gary Dinn of PanGeo Subsea presented at the Ocean Tech Expo.  He described the mission as creating the platform to meet with potential clients, vendors and industry leaders and found it effective in creating greater awareness of his company in a key market.

A delegation from the province will be looking to extend the positive momentum generated in Rhode Island at the Maritime Systems and Technology Conference in Washington, DC in late-June. The delegation will be able to explore and develop commercial and technology partnering opportunities in the maritime security and defense sector.

We are optimistic that the seeds planted through our MOUs will continue to germinate and lead the province and its partners to continuing to expand our respective interests.

2010 06 03                                                  1:50 p.m.

SearchHomeBack to GovernmentContact Us

All material copyright the Government of Newfoundland and Labrador. No unauthorized copying or redeployment permitted. The Government assumes no responsibility for the accuracy of any material deployed on an unauthorized server.
Disclaimer/Copyright/Privacy Statement