International trade missions are important, but domestics sales are also of considerable importance for Island-based companies who export their products and services. Prince Edward Island Business Development (PEIBD) has led two trade missions to Toronto, Ontario in the last year in response to several requests from PEI companies. From May 30 to June 3, 2005, six Island companies will embark on their first-ever trade mission to Calgary and Edmonton, Alberta.
“There are many great opportunities that exist in our Canadian markets,” said Michael F. Currie, Minister of Development and Technology. “PEI companies are realizing that there are several lucrative markets to explore right here in Canada. Success in domestic markets generates additional sales for PEI companies which translates into more money invested into our province.”
Prince Edward Island businesses participating on the Alberta trade mission include: Progressive Bioactives, Ark Biomedical, Prebilt Structures, Prince Edward Aqua Farms, Coles Door Systems and Deltaware Systems.
The Calgary region is Canada’s fastest growing economic region for 2004 and at 4.6 percent has enjoyed the highest rate of real Growth Domestic Product (GDP) growth among Canadian cities.
“It makes good sense for Island businesses that export their products and services to explore business opportunities that can develop within our own country, and the Calgary region looks very promising,” added Currie.
In June 2004, PEIBD led its first domestic trade mission to Toronto with nine participating PEI companies. A second Toronto mission took place later that year in November 2004. During the second mission, six Island companies returned to the Toronto market for follow-up meetings with previous contacts made on the first mission as well as to explore new ones. Sales were projected at $2 million from the combined Toronto missions.
Toronto is Canada’s most populous metropolitan area. The city is home to head office’s of big name companies like Loblaws, Wal-Mart, The Bay, Sysco, Canadian Tire, Home Hardware and Sears Canada. Several export distribution companies servicing the United States in the food, building products and consumer products sectors are also located in the Greater Toronto Area.
PEI Business Development’s Trade and Export Development division is responsible for actively pursuing trade and export opportunities for Prince Edward Island business development. For more information about trade missions within Canada, please visit www.peibusinessdevelopment.com or contact the Trade & Export division at (902) 368-6300.