Strengthening trade relationships with the European Union topped the agenda for discussions with Ambassador Matthias Brinkmann of the European Union to Canada, says Premier Robert Ghiz.
“The Prince Edward Island government recognizes that increasing exports is key to our continued economic growth,” said Premier Ghiz. “The European Union is an important trading partner, and I was pleased with the opportunity to discuss key areas of trade and investment with European nations.”
During his one-day visit to Charlottetown, Ambassador Brinkmann also met with Minister of Innovation and Advanced Learning Allen Roach, Agriculture and Forestry Minister George Webster and Fisheries, Aquaculture and Rural Development Minister Ron MacKinley. He is also meeting with representatives of the agriculture and fishing industries.
The European Union is Prince Edward Island’s second most important trading partner, accounting for approximately 10 percent of international exports, or about $80 million, up from $65 million five years ago. The major exports are agricultural products, lobsters, bioscience technologies, airplane components and manufactured goods. Premier Ghiz said there is significant potential to increase trade and investment in these areas, along with financial services, renewable energy, and information and communications technologies.
Premier Ghiz said that current negotiations between the federal government and the European Union have the potential to significantly increase trade and investment for Prince Edward Island businesses.
“An agreement would reduce tariffs, eliminate non-tariff barriers, gain greater market access and develop mechanisms to deal with trade irritants,” said Premier Ghiz. “A significant number of jobs are linked to exports, and trade represents a major component of our Gross Domestic Product.”
Trade and exports are a key topic in Prince Edward Island this week as it hosts the 2013 Economic Mission being attended by representatives of some 60 nations from around the world.