News Release Archive
InNOVAcorp--HIGH-TECH OPPORTUNITIES IN AGREEMENT WITH URUGUAY
-----------------------------------------------------------------
Some high-tech industries in Nova Scotia will be in line for
business opportunities as a result of an agreement to be signed
with the South American country of Uruguay next week.
Officials from the Uruguayan Navy will be in Halifax on Monday,
May 26, to sign a memorandum of intent related to the country's
plan to claim an economic zone beyond its current 200-mile limit.
Under Article 76 of the United Nations Law of the Sea, countries
seeking to extend economic zones need to submit a significant
database of bathometric, seismic and oceanographic information to
support the ratification application. However, Uruguay is among
35 to 60 countries that qualify for Article 76 recognition but
may not have the capabilities to produce the required
information.
That's where Nova Scotia comes in.
The Uruguayan Navy has been negotiating with Dalhousie
University, the Bedford Institute of Oceanography, InNOVAcorp and
the Nova Scotia Oceans Initiative, on behalf of private industry,
for the past year on the development of the database.
The efforts have resulted in a formalized process, which will be
outlined through the memorandum. It will be signed at Dalhousie's
University Hall at 3 p.m. on Monday in a ceremony hosted by
InNOVAcorp.
"We're very excited about the opportunities this may bring to
high-technology ocean industries in Nova Scotia," said Dr. Ross
McCurdy, chief executive officer of InNOVAcorp.
"Developing a database of this size will highlight the expertise
available in this province."
Following the signing of the memorandum, officials will meet for
a week to determine how much work is required to complete the
database for Uruguay.
It is hoped that the expertise available in Nova Scotia and
developed through the work with Uruguay will lead to similar work
for other countries, including Canada, which need to develop data
for Article 76 recognition.
InNOVAcorp is a Nova Scotia Crown corporation that helps bring
technology developed by Nova Scotia companies to the marketplace.
-30-
Contact: Valerie Bellefontaine
InNOVAcorp
902-424-8670, ext. 158
NOTE TO EDITORS: For a copy of the Uruguayan delegation's
schedule in Nova Scotia next week, please contact Valerie
Bellefontaine at the above number.
trp May 23, 1997 - 4:30 p.m.
