News Release - January 10, 1997
ROMANOW OVERSEES TRADE AGREEMENTS; MEETS WITH SOUTH KOREAN PRESIDENT
Premier Roy Romanow yesterday oversaw the signing of commercial and
research agreements between Saskatchewan and Korean partners, and
discussed Saskatchewan trade opportunities with Korean President Kim
The premier oversaw a trade and investment agreement signed yesterday
afternoon between Saskatchewan-based Massload Technologies and Daelim
Scales Manufacturing Company Limited. The partners will work together
to market Massload products throughout Asia, with a goal for sales of
$5 million in the first year. The agreement will initially create 10
to 12 jobs in Saskatchewan and about the same number in Korea.
"Korea is our third largest trading partner in Asia," Romanow said.
"This agreement is an example of what we hope to achieve in our trade
relations -- a shift towards value-added trade and investment and
creating more good, well-paid jobs in Saskatchewan. These partners
have tremendous opportunity for growth in the Asian market."
Romanow also overlooked a research and development agreement between
the University of Saskatchewan's world-leading Veterinary Infectious
Diseases Organization (VIDO) and the National Veterinary Research
Institute of Korea. The partners will work together to jointly develop
advanced biotechnology vaccines to control major animal diseases.
"This agreement highlights another important aspect of our relations
with Korea -- our increasing research and educational ties," Romanow
said. "VIDO is a world leader in its field with several animal biotech
world firsts under its belt. With this agreement, VIDO is launching a
partnership with a strong sister organization in Korea and positioning
itself to market its successes in Asia."
Romanow is in Korea as part of the Team Canada trade mission and is
travelling with Prime Minister Jean Chretien and ten other provincial
and territorial premiers.
During yesterday's events, Romanow stressed opportunities for growth in
Saskatchewan's resource and manufacturing sectors and the province's
agriculture and ag-biotech industries.
Romanow, Prime Minister Chretien and the other first ministers met with
Korean President Kim Young-sam yesterday morning. In his exchanges
with President Kim, Romanow stressed Saskatchewan's interest in new and
expanded partnerships with Korea. Korea already has substantial
investments in Saskatchewan's uranium industry and is a major importer
of Saskatchewan grains, potash and canola.
Noting the strength of existing trade ties, the premier told President
Kim he hoped Korea would continue to make progress in reviewing its
agriculture tariff structure. Among other issues, current Korean rules
encourage the import of raw rather than finished canola products.
Romanow also stressed opportunities for new partnerships in
high-technology research, biotechnology and farm implement
For more information, contact:
on the trade mission, Tim Kydd
Brian Topp Media Services
Deputy Chief of Staff Regina
Phone: (02) 233-3131 Phone: (306) 787-0850