The Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Michael Currie, PEI Minister of Development & Technology, today announced that several agri-food/seafood companies from Atlantic Canada will attend the largest seafood show in the world from May 6 to 8 in Brussels, Belgium, with the assistance of the Canada/Atlantic Provinces COOPERATION Agreement on International Business Development (IBDA).
The European Seafood Show will showcase Atlantic Canadian seafood producers on an international stage for the purpose of introducing and selling their product in this dynamic market.
"The fish and seafood sector is one of the cornerstones of Atlantic Canada's economy," said Minister Byrne. "The Government of Canada is committed to helping this important industry grow and diversify. Judging by past results, this event will allow the participating export-ready companies to establish valuable international contacts, which could result in immediate and long-term sales. Every time our region's companies increase their exports, it means more jobs for Atlantic Canadians."
The companies that participated in the 2002 event realized on-site sales of more than $2.5 million, with projected sales rising over $15 million within 18 months.
"The European market is essential for our Atlantic Canadian producers as well as our Island producers," said Minister Currie. "The export value of Atlantic Canada seafood exports to this market has increased from $189 million in 1996 to $284 million in 2001, a 50 per cent increase from 1996 levels. Through IBDA's continued support, the region's companies will be able to generate new sales opportunities in international markets."
The IBDA is designed to increase exporting in Atlantic Canada by funding projects that help small- and medium-sized companies explore, enter and succeed in international markets.
The IBDA focuses on international trade as an economic development imperative and provides a forum for cooperation and coordinated action. Since its establishment, more than 130 projects involving 2,500 Atlantic Canadian companies have been approved.
First signed in May 1994, the $13-million Agreement involves the four Atlantic Canadian provincial governments and three federal departments - the Atlantic Canada Opportunities Agency, Industry Canada and the Department of Foreign Affairs and International Trade. ACOA provides 70 per cent of the funding while the provincial governments provide the remaining 30 per cent.