Newfoundland and Labrador Holds First Trade Show in Iceland

21.11.2007

"We have led a number of trade missions to Iceland in recent years to help Newfoundland and Labrador businesses explore the possibility of exporting to Iceland, and the results have been very positive," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "We are now building on that momentum and holding a three-day consumer and business-to-business trade show from November 23-26."

This project is a partnership between INTRD, the Atlantic Canada Opportunities Agency (ACOA), the Canadian Manufacturers and Exporters (CME), the Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE) and the Department of Foreign Affairs and International Trade.

"The Government of Canada, through ACOA, is an enthusiastic supporter of NLOWE’s participation in the Reykjavik trade show," said the Honourable Peter MacKay, Minister of National Defence and Minister of ACOA. "This mission, like the many others supported by ACOA, provides Atlantic businesses with opportunities to gain first-hand knowledge of key foreign markets, broadens their network of contacts and enhances the skills they need to be successful exporters."

INTRD’s initial trade mission to Iceland in 2002 was designed to assist the Newfoundland and Labrador Home Builders Association sell building materials and homes. Since then, interest in exporting to this market has grown. Iceland imports many of its building supplies and consumer goods from Europe, and Newfoundland and Labrador offers the prospect for import substitution. Iceland has a considerable appetite for consumer goods and Icelanders have been traveling to Newfoundland and Labrador in increasing numbers to shop, particularly at Christmas time.

"Our members who participated in the 2006 Icelandic trade mission found it encouraging and made a number of sales and business contacts," said Nena Abundo, executive director of NLOWE. "Iceland, with its relatively small population and many small businesses, is a good fit for our members."

"Iceland, like Newfoundland and Labrador, has a strong fishery manufacturing sector and our companies have already worked profitably together," said Glen Mifflin, chairman of the Canadian Manufacturers and Exporters Newfoundland and Labrador division. "I believe there are other potential markets for manufactured goods and a number of our members will be participating in the mission to pursue them."

The buyers showcase will allow Newfoundland and Labrador companies to meet with potential Icelandic businesses and partners, improving trade relations and opportunities between Newfoundland and Labrador and Iceland.