Released on February 20, 2007
A Team Saskatchewan trade mission heads to India tomorrow to build upon the province’s existing markets and to create closer links for training, trade and bio-energy opportunities.
The six-day trip will include meetings with a cross-section of Indian business, academic and government leaders. One of the objectives of the mission is to further strengthen the provincial economy’s ties to India’s economy, one of the fastest-growing in the world after China and predicted to be the fourth largest by 2025.
“Saskatchewan has a long export history with India, and in fact leads every other province in Canada in exports to India,” Industry and Resources Minister Eric Cline said. “India is emerging as one of the world’s major economies, and there are very significant trade and investment opportunities for us to pursue there, in addition to the continuing tradition of knowledge-sharing we enjoy.”
Saskatchewan’s universities have well-established interests in India and have been frequent visitors to the country. There are also other active relationships between the province and Indian business interests and government bodies. Over the past decade various Memoranda of Understanding (MOU) have been signed between the two jurisdictions regarding environmental biotechnology and other sectors, with similar projects and MOUs on the agenda for discussion this week.
“India has been one of our fastest growing markets, with a 91 per cent growth in value of total export sales from Saskatchewan over the most recently measured period from 1996-2005,” Saskatchewan Trade and Export Partnership (STEP) president and CEO Dale Botting said. “This is a timely mission, and its special focus on growing our biotechnology, innovation, energy and agri-value partnerships will not only be beneficial to Saskatchewan, but also will help develop this future Asian power house.”
Meetings scheduled for the current trade mission will take place in New Delhi, Bangalore, and Chennai about Saskatchewan’s mining industry, information and communications technologies, agriculture development, and fertilizer trade and investment. Participating organizations include STEP, the Saskatchewan Research Council, the University of Regina, the University of Saskatchewan and Athabasca Potash.
In 2005, Saskatchewan’s exports to India - comprised mainly of agriculture and agri-food products and fertilizer - were worth more than $300 million, making India the province’s fourth largest international export destination.
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For more information, contact:
Jamie Shanks
Industry and Resources
Regina
Phone: 306-787-1691
Email: jshanks@ir.gov.sk.ca