HALIFAX, Nova Scotia – April 2, 2002 – The Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and Premier John Hamm, today announced that ten Nova Scotia companies would be among the 40 companies participating in Team Canada Atlantic’s first visit to New York City, May 21-23, 2002.
Team Canada Atlantic trade missions represent a key component of ACOA’s and Nova Scotia’s development strategy to raise Atlantic Canada’s profile and exposure in key US marketplaces with significant opportunities for our businesses. The main objective is to facilitate new business partnerships, increase trade and investment, and build strategic alliances between Atlantic Canadian and US companies.
“I am pleased to announce that the Government of Canada, in partnership with the four Atlantic Provinces, will take trade and investment to an important new level by bringing Team Canada Atlantic to another major US market”, said Minister Byrne. “New York and the tri-State area represent a tremendous opportunity for export growth, which is a strategic priority for ACOA in building our economy and creating new jobs in Atlantic Canada. Together, we’re helping Atlantic Canadian businesses reach out to new markets around the world and attracting direct foreign investment in our region.”
Combined, the previous five missions to New England and Atlanta have generated agreements expected to result in $130 million in sales for the participating companies. Those sales would ultimately create more than 500 new jobs throughout Atlantic Canada.
“With this kind of success behind us, we approach the very lucrative and competitive New York market with a great deal of anticipation, but with the understanding that our work will certainly be cut out for our team”, said Premier Hamm. “I’m very excited to be working with these ten outstanding Nova Scotian companies to help increase their exposure in the tri-state region”.
The tri-state (New York, New Jersey and Connecticut) marketplace has a population roughly equivalent to Canada, but with a GDP nearly 50% larger. Canadian exports to this region exceed $32 billion of the $239 billion exported to all of the US each year. Roughly one-quarter of major US corporations are headquartered in the tri-state area including 97 of the Fortune 500.
The Team Canada Atlantic Mission to New York City is a cooperative effort organized by ACOA, the four Atlantic provinces, the Department of Foreign Affairs and International Trade, Industry Canada, Nova Scotia Business Inc., and the Canadian Manufacturers and Exporters.
For more information on the Team Canada Atlantic Trade Mission to New York City, visit http://www.teamcanadaatlantic.com/