More than 450 ethnic entrepreneurs, business leaders, innovators and researchers came together at the Ministry for Ethnic Communities’ second Ethnic Xchange business symposium in Auckland on Friday 14 November.

Two new landmark reports highlighting the economic contribution of Ethnic Communities were shared at the symposium. One report was developed by economist Shamubeel Eaqub for several organisations, including the Ministry. The Economic contribution of ethnic minority communities 2001–2023 report showed that Ethnic Communities contributed $87 billion in 2023, up from $64b in 2021.

The other report, Ethnic Women Entrepreneurs: Amplifying impact for New Zealand, was commissioned by our Ministry and produced by Ziena Jalil, Co-founder - NZ Ethnic Women Entrepreneurs Network. It highlights the stories of ethnic women entrepreneurs and the challenges they have faced.

Ethnic Xchange: Going for Growth – Expanding Ethnic Enterprises (EX25) had a specific focus on global trade and connections, innovation, AI and investment.

View the programme and full speaker line-up.

Keynote speaker Prasanna Gai, Member, Reserve Bank Monetary Policy Committee, opened the event by situating New Zealand within a rapidly shifting global economic landscape marked by uncertainty. Highlighting migrants’ resilience, agility and global outlook, he emphasised that Ethnic Communities embody the mindset needed to convert “uncertainty into opportunity”.

The solution is not in some distant theory or elusive policy fix. It is embodied in the resilience and innovation in this room. The real architects of our economic prosperity are the very people assembled here today,” he told the audience.

Mervin Singham, Chief Executive, Ministry for Ethnic Communities, ended the day with a similar tone: “We have a choice to work collectively for the benefit of all, because what benefits Ethnic Communities benefits all New Zealanders”.

KPMG New Zealand Partner Bineeta Nand was one of the symposium’s panellists.

“New Zealand’s diversity is not just a cultural asset to us; it’s an economic superpower,” Bineeta said.

“Ethnic Xchange gives us a great platform to bring ethnic businesses together, collaborate, connect and really unlock that economic power for the prosperity of all New Zealanders.”

Ethnic Xchange was sponsored by Xero, KPMG New Zealand, AUT, Auckland Business Chamber, Ministry for Women and Ministry of Foreign Affairs and Trade (MFAT).

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