The Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Pat Binns, Premier of Prince Edward Island, today announced that they will lead a Team Canada Atlantic Mission to Washington, D.C. from November 2-6, 2003.
Atlantic Canadian companies interested in furthering their exports to the United States have shown considerable interest in the Washington, D.C. market. More than 145 companies from Atlantic Canada registered to participate in recent information sessions that provided details on the Greater Washington market.
"Through exporting, Atlantic Canada can explore a wide range of economic opportunities which can lead to further growth and prosperity. The Greater Washington market has been identified as a region that could provide Atlantic Canadian companies with tremendous growth potential in various sectors, including government procurement and information technology," said Minister Byrne.
"US Government procurement has shown significant growth from close to $5 billion in 1981 to an estimated $34.6 billion in 2002. As well, the American Government is the largest technology consumer in the region and, in terms of computer, engineering and science occupations, ranks a close second to Silicon Valley," added Minister Byrne.
"It is important for Island companies to continue exploring the advantages of networking with other potential markets in the United States, and the Washington area holds promise for Island businesses," said Premier Binns. "PEI is an exporting province and Island companies who currently export their products and services understand the importance of exporting. The mid-Atlantic states are key markets for Prince Edward Island exporters."
"At almost six million inhabitants, The Greater Washington, D.C. area represents the fourth largest population area in the United States after Los Angeles, New York and Chicago," said Thomas G. Morr, Managing Partner of the Greater Washington Initiative, a cooperative economic development-marketing program for the District of Columbia, Northern Virginia and suburban Maryland. "The Greater Washington area led the United States in employment growth in 2001 and represents the fourth largest Gross Regional Product at slightly more than $280 billion annually."
Atlantic Canada exports to the Mid-Atlantic States (Delaware, District of Columbia (DC), Maryland, Pennsylvania and Virginia) were valued at $1.6 billion in 2001, accounting for approximately 9% of Atlantic Canada's total export market.
Many Atlantic Canadian companies have already established trade relationships within the Greater Washington market and the November trade mission will give more companies a chance to explore this market.
The mission will focus on business opportunities in a variety of sectors including: Information and Communications Technology, Biotechnology, Consumer Products, Agriculture and Agri-food and Building and Construction Products. Participants will explore additional opportunities related to International Financial Institutions and government procurement.
Since the Team Canada Atlantic program began in 1999, the combined seven trade missions to New England, Atlanta and New York have resulted in estimated long-term sales in excess of $160 million for the participating companies.
The Team Canada Atlantic trade mission to Washington is organized by the Atlantic Canada Opportunities Agency (ACOA), the provinces of Prince Edward Island, New Brunswick, Nova Scotia and Newfoundland and Labrador, the Department of Foreign Affairs and International Trade, Industry Canada, Agriculture and Agri-Food Canada and the Canadian Manufacturers and Exporters.