News Release Archive
PREMIER--NOVA SCOTIA COMPANIES, PROVINCE SIGN DEALS IN THAILAND ----------------------------------------------------------------- Nova Scotia companies today signed contracts and memorandums of understandings worth $11.4 million, Premier John Savage said today in Thailand. The Province of Nova Scotia also signed a memorandum of understanding (MOU) with Thailand's Ministry of Higher Education. Today's agreements push the total value of Nova Scotia signings on the current Team Canada Asian trade mission to almost $18 million. "This has been by far the most successful Nova Scotia Team Canada mission to date. This success reflects the growing importance of Asian markets to Nova Scotia." "Asian economies, especially in the developing countries, are growing at a phenomenal rate when compared to other world markets. In order to capitalize on these markets, it is important for Nova Scotia companies to get in on the ground floor and not wait until these Asian economies become fully developed," Premier Savage said. The agreements signed today include: - A memorandum of agreement between Survival Systems, of Dartmouth, and the National Petrochemical Public Company of Bangkok. This project, valued at $10 million, will see the establishment of a joint venture to operate a survival training institute to serve Thailand and other countries in Southeast Asia. - A $1.4 million agreement between Acadian Seaplants, of Dartmouth, and Intercrop Limited, of Bangkok, to purchase seaweed products. Acadian Seaplants employs 100 full-time employees and more than 1,000 seasonal workers. - A memorandum of understanding between Atlantic Combustion Products, of Amherst, and Asia Combustion Product and the Electricity Generating Authority of Thailand. Initially, Atlantic Combustion will be supplying its CoMate combustion catalyst on a product trial basis. A successful completion of this test would result in Atlantic Combustion selling $11.5 million worth of its product annually to the Thailand companies. Premier Savage said the memorandum of understanding signed with Thailand's Ministry of Higher Education will build on Nova Scotia's strong international reputation in post-secondary education. The memorandum will encourage cooperation in many areas of post-secondary education and training in both jurisdictions. "Thailand has discovered Nova Scotia as a valuable resource for post-secondary education and research, as well as student and staff exchanges. Today's signing opens the door for expanded opportunities for both students and our post-secondary institutions," the premier said. The MOU encourages both Thailand and Nova Scotia to cooperate in education and training at both the undergraduate and post-graduate levels; to develop specific education and training programs and projects between institutions; and to cooperate in research and development. Nova Scotia is aggressively marketing its post-secondary educational system overseas and has established a joint marketing plan between the provincial government, universities and the Nova Scotia Community College. The aim is to attract 1,000 new international students to Nova Scotia by the year 2000, generating $2 million in new revenues. "Foreign students studying in our province have the dual benefit of providing new revenues while at the same time acting as unofficial Nova Scotia ambassadors when they return home after graduation," Premier Savage said. Saint Mary's and Dalhousie Universities, the Nova Scotia College of Art and Design and the Nova Scotia Community College are all represented on the current Team Canada trade mission. The mission, which began Jan. 8, wraps up early next week with most members of the Nova Scotia delegation returning home Tuesday. -30- Contact: Ann Graham Walker 1-902-424-2590 trp Jan. 17, 1997 - 10:15 a.m.