PEIA trip to Asia by Atlantic seafood companies is among the upcoming activity as Prince Edward Island tries to diversify its markets away from the United States in this age of tariff turmoil.Atlantic seafood companies are scheduled to travel to Asia this SeptemberRyan McKellop · CBC News · Posted: Sep 02, 2025 5:00 AM EDT | Last Updated: 3 hours agoDarlene Compton, P.E.I.’s minister of economic development, innovation and trade, said her department believes repeated trade missions to the same places will help build business relationships. (Cody MacKay/CBC)A trip to Asia by Atlantic seafood companies is among the upcoming activity as Prince Edward Island tries to diversify its markets away from the United States in this age of tariff turmoil. “We’ve announced earlier that we are going to double our trade missions for P.E.I.,” said Darlene Compton, the province’s minister of economic development, trade and innovation. “Singapore is the next on the roster.”That’s where seafood companies will be heading to take part in Seafood Expo Asia 2025 from Sept. 10 to 12. The expo offers something called the hosted buyer program, connecting companies that have an exhibit with high-volume buyers.According to Innovation P.E.I., demand for seafood from Atlantic Canada has grown tremendously over the past five years, with export sales nearing $1.5 billion in 2023.”Our P.E.I. mussels, lobster, scallops — whatever is needed in that part of the world, whatever is a popular item in that part of the world, we’ll be happy to supply it,” said Compton. Where in the world is P.E.I. looking to diversify? Paris, the Netherlands and Indonesia to startWhen it comes to U.S. tariffs, the message in the legislature today was that P.E.I.’s economy has been spared the worst… so far. Canada was not among the countries U.S. President Donald Trump listed on April 2 as about to be hit with new “reciprocal” tariffs. But P.E.I. Trade Minister Darlene Compton (shown) says she’s meeting with representatives of Island industries that are looking to diversify their markets in a hurry, just in case. CBC’s Stacey Janzer reports. Compton said the province is subsidizing the work along the way.”We’re paying up to $32,000 per applicant for diversification of markets, so there have been 150, I think, 170 companies that have accessed that and we’re continuing to see an uptake.”‘Trade is actually up’She added that despite the turmoil U.S. President has sparked by imposing tariffs on countries including Canada, “trade is actually up… Exports are up 11 per cent to the U.S., and throughout the world 16 per cent. So that is the good news of this.” These days, however, exporting provinces like P.E.I. can’t bet on trade with the U.S. staying solid, despite some long-term business relationships with American buyers.”Many of our Island companies do not want to have to change who their customers are,” Compton said. A number of potato producers on the Island see their American buyers as friends and family and have been dealing with them for decades, she said. But along with the companies that don’t want to find new customers or would prefer not to, Compton said, “there’s just as many that would like to find new customers.”Building relationships takes timeThough trade missions and expos don’t bear fruit overnight, Compton said they can be a first step in securing new business relationships.”That first contact is just that, you know. Then you have to develop that relationship to kind of find the trust factor for both the seller and the buyer,” she said.”It doesn’t happen overnight. It’s something that [we] really have to work on — and not just the province but the companies as well and also the customers.” We’re paying up to $32,000 per applicant for diversification of markets, so there have been 150, I think, 170 companies that have accessed that.— Darlene ComptonAfter the Singapore expo, another mission is taking place from Sept. 14 to 21 involving South Korea and Japan.As well, manufacturing companies are set to go on a mission to Miami to attend the Caribbean Infrastructure Forum on Sept. 16-17.ABOUT THE AUTHORRyan McKellop is a graduate of the Holland College Journalism program and a web writer at CBC P.E.I.With files from Cody MacKay
P.E.I. minister says up to 170 companies have sought help to diversify markets
