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REF NO.: 80

SUBJECT: Memorial University's Faculty of Business Administration announces Vector Chair in Irish Business Studies
DATE: Feb. 14, 2003

{Dr. David Stewart}
Dr. David Stewart
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Memorial University's Faculty of Business Administration hopes to bring the Irish business community a little closer to Newfoundland and Labrador with the development of the Vector Aerospace Chair in Irish Business Studies. The new position is a partnership between Memorial University, Vector Aerospace Corporation and the Atlantic Canada Opportunities Agency (ACOA).

Dr. David Stewart, a faculty member at Memorial since 1982, was appointed to the new position for a five-year term. Dr. Stewart, who specializes in international marketing, will work closely with Ireland Business Partnerships and other parties, interested in developing alliances within Ireland and the European Union. He will also support the research efforts of the Faculty of Business Administration and the Centre for International Business Studies.

"I am delighted to announce this exciting new research chair," said Dr. Gary Gorman, dean of the Faculty of Business Administration. "The Vector Aerospace Chair in Irish Business Studies is an excellent opportunity for our faculty, students and the local business community to access international markets and learn from our Irish business partners."

"While there are important differences between the province and the Republic of Ireland, we can still learn a lot from the success of the Irish," said Dr. Stewart. "In particular, the Republic has been very successful in attracting foreign direct investment and in increasing its exporting activity. I intend to examine each of these areas and see if any knowledge can be transferred to benefit the development of the province. It should be an exciting experience," he said.

Vector Aerospace Corporation contributed $250,000 to the creation of the Chair in Irish Business Studies. "This investment demonstrates our commitment to post-secondary research and education and its role in the economic and business development of Newfoundland and Labrador," said Mark Dobbin, chairman and CEO of Vector Aerospace Corporation. "The Faculty of Business Administration is a tremendous asset to Newfoundland and Labrador and Dr. Stewart's new position will help students and businesspeople access international marketing expertise."

The Honourable Gerry Byrne, Minister of State for ACOA is delighted that the federal government is a major sponsor of this new Chair in Irish Business Studies. ACOA provided $239,875 in funding for the initiative under its Business Development Program. Commenting on the new research chair, Minister Byrne said: "ACOA is pleased to be a partner in this initiative to enhance Newfoundland and Labrador's ties with Ireland, and to create new business opportunities for our province. Dr. Stewart's research will complement the work of the academic community at Memorial University and will support Ireland Business Partnerships' efforts to pursue trade-related opportunities."

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