Premier Pat Binns departs this afternoon to join the Prime Minister and other Premiers and Territorial Leaders on the Team Canada Trade Mission to Russia and Germany. Business leaders from across Canada will join the First Ministers for the ten-day mission to Moscow, Berlin and Munich.
Premier Binns believes that the annual Trade Missions, fully sponsored by the federal government, affords increased opportunities for trade and investment.
"Prince Edward Island has enjoyed astounding growth in its exports over the past few years, in part because we are actively marketing our capacity as a province on the international stage," said the Premier.
The Premier indicated that there is significant potential for the province to increase trade in Russia and Germany given the current levels of trade with each country.
"Our annual trade with Russia is almost nonexistent; however, we see some potential for our agricultural technology sector to start making an impact. Germany accounts for about $2.4 million in annual exports, mostly related to the frozen seafood and tourism industries. Obviously, we think there is room to make gains in both countries," noted the Premier.
Team Canada Trade Missions are an excellent opportunity to meet with the principals of some of Canada's leading businesses. Many of the country's largest corporations participate in the annual Trade Missions, and the Premier is expected to hold discussions while in Russia and Germany.
"By venturing into new export markets, we hope to position our province for expansion down the road. Developing international trade business is not achieved overnight. Trade missions such as Team Canada help us to initiate that process," said Premier Binns.