Updated August 28 at 4:28pm

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TRADE

Chafee announces $3M in projected sales, new leads after trade missions

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PROVIDENCE – Recent trade delegations to Canada, the Dominican Republic and Panama resulted in 45 serious business leads and $3 million in projected new sales, Gov. Lincoln D. Chafee announced Thursday.

The trade missions were organized by the R.I. Economic Development Corporation and the John H. Chafee Center for International Business at Bryant University with support from the U.S. Small Business Administration, the U.S. Department of Commerce Commercial Service and the Rhode Island Procurement Technical Assistance Center.

“Looking abroad to promote Rhode Island products, services and industries is an important part of helping our state’s businesses grow and succeed,” said Chafee in a release. “The impressive collaboration taking place between RIEDC, Bryant University and our federal partners, including the Small Business Administration, is connecting Rhode Island businesses with new export opportunities that will increase economic activity here at home.”

According to a release, the 11 businesses that took part in the trade delegations are projecting $3.05 million in new sales within the next year and have generated 45 “serious business leads.”

Six different companies were part of the Rhode Island trade delegation to the Canadian Defense Security and Aerospace Exhibition Atlantic 2012 conference in Halifax, Nova Scotia, on Sept. 4-7. Five businesses participated to the trade mission to Panama and the Dominican Republic on Sept. 22-29.

“The enthusiasm and energy from the companies that participated in these events further demonstrate that Rhode Island companies are ready and eager to grow internationally,” Raymond W. Fogarty, director of the Chafee Center, said in a statement.

“Part of our mission at the Chafee Center, in partnership with the International Trade Office at the RIEDC, is to help break down the perceived barriers to foreign trade and provide support to these companies through trade missions, training, consulting and research,” added Fogarty. “There is nothing more satisfying than sharing in these events and witnessing the success of Rhode Island companies as they build international business relationships, create business growth and add jobs to fuel the Rhode Island economy.”

RIEDC, EDC, R.I. Economic Development Corporation, trade, canada, chafee, panama, dominican republic, John H. Chafee Center for International Business at Bryant University

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