NB: Province targets China for business growth

[FREDERICTON, NB] — The provincial government is expanding business opportunities for New Brunswick companies in major Chinese markets.

Yesterday, Business New Brunswick Minister Victor Boudreau announced the province is hiring a market representative to develop leads, provide matchmaking services for businesses, gather market intelligence and help with the organization of trade missions.

“We know from our two previous missions that having knowledgeable people on the ground in China may help our businesses make valuable contacts with potential customers,” said Boudreau. “I am confident that our new China representative will boost New Brunswick’s profile in China and help our companies bring home more business and be more successful.”

Through Business New Brunswick, the provincial government has signed a seven-month term contract with Ivy Wang, owner of Atlantic Canada Business Network (ACBN), to promote business opportunities between New Brunswick and China.

Wang’s company will begin working immediately with Business New Brunswick to plan for the multi-sector trade mission to China scheduled for early 2010. The mission will include stops in Beijing, Shijiazhuang and Shenzen and is open to any New Brunswick company interested in or already doing business in China.

ACBN has offices in Saint John, Beijing and Shenzen. Through her company, Wang has organized and led more than 30 incoming and outgoing missions between Canada and China within the last five years, including two involving New Brunswick.

In November 2008, Premier Shawn Graham led a delegation of 13 New Brunswick companies on the Council of the Federation Mission to China. The trip resulted in new contracts estimated at $90 million over five years.

In May 2009, Business New Brunswick sponsored a follow-up mission to China with seven companies, resulting in immediate sales of about $275,000, with anticipated sales of more than $5 million within one year.

“We recognize the importance of Chinese markets in terms of exports for our companies and in attracting new investment to New Brunswick,” said Boudreau. “As we look to a self-sufficient future for this province, we must also look to new and emerging markets for our products and services.”