After three full days of meetings with potential agents, brokers, distributors, and strategic partners in Washington, 27 Atlantic Canadian companies and business organizations emerged from the U.S. capitol region with solid business leads for potential partnerships and sales.
This latest Team Canada Atlantic mission to Washington (April 25-29) follows an earlier one in November, 2003, in which 40 Atlantic Canadian companies ventured to this promising and lucrative region of the U.S. northeast to build new business opportunities.
“This has been an excellent follow-up trade mission,” said the Honourable Joe McGuire, Minister of the Atlantic Canada Opportunities Agency (ACOA). “Breaking into a new market, especially one as sophisticated and large as this one, is not a simple task. But Team Canada Atlantic is helping increasing numbers of Atlantic firms do just that. Trade is a crucial component of the Atlantic economy. Trade in goods and services account for 36.4 per cent of Atlantic Canada’s Gross Domestic Product”.
“Over time, trade missions have generated numerous success stories for our Island companies,” said Michael F. Currie, Minister of Development & Technology. “As Islanders, we all benefit from these trade missions because they create economic spin-offs for our province such as creating meaningful employment for our residents.”
During the trade mission, business delegates and officials participated in a comprehensive program that included one-on-one matchmaking sessions and a number of roundtable discussions. Discussions included How to Sell to the U.S. Government, the Commercialization of New Technologies, meetings with senior World Bank officials and extensive networking opportunities with high level Washington area business leaders.
Altogether, TCA participant firms and business organizations held 148 meetings with Washington-area industry contacts.
The mission focused on developing opportunities for enhanced export business for Atlantic firms in the areas of information and communications technology, biotechnology, agri-foods, consumer products, and the building and construction sector.
“This is a really important market for us – we’ve been developing it for six years. The trade mission format makes it so much easier, and provides a real focus for our market activities,” said Colin Deacon, Senior Vice President, Research and Corporate Development of Spell Read P.A.T. Learning Systems Inc.
Mr. Deacon said he had very productive meetings during the trade mission, and signed a new deal with the Arlington County Public School District. The relationship with the district was forged during the first TCA mission to Washington last November. The company followed up on the initial contacts made, and this week confirmed the deal. Mr. Deacon added that he has other potential deals in the works that look very promising.
Team Canada Atlantic missions are designed to increase trade and to attract foreign direct investment for Atlantic Canada through strategic initiatives targeted specifically to select U.S. markets. The missions introduce export-ready firms to international markets and provide experienced exporters the opportunity to explore new markets.
Since the TCA program began in 1999, there have been a total of nine trade missions – including this latest to Washington – to the United States. The missions have enabled more than 300 Atlantic Canadian firms to meet with over 2,450 buyers, agents, and business owners from across the United States, helping to generate $20 million in short term sales and more than $115 million in long-term sales.
Team Canada Atlantic partners include: ACOA; the Atlantic Canada World Trade Center; the Department of Foreign Affairs and International Trade; Agriculture and Agri-food Canada; Industry Canada; and the governments of Prince Edward Island, Nova Scotia, New Brunswick, and Newfoundland and Labrador.