NZ seeks advice from small advanced economies

NZ seeks advice from small advanced economies

Aug 23 (BusinessDesk) - New Zealand is to host a meeting of what the government is calling "small advanced economies", involving Singapore, Denmark, Finland, and Israel, in Auckland in November, to try and kick-start international collaboration with better-performing countries of similar size.

Prime Minister John Key and Economic Development Minister Steven Joyce announced the initiative at a Royal Society event in Auckland, as part of a drive to improve commercialisation of New Zealand intellectual property.

The announcement follows the launch Tuesday of a national innovation strategy and stocktake document, Building Innovation, in Wellington, as part of a political push to articulate its economic growth strategy more clearly.

The report is the second of six to be produced this year describing the Economic Growth Agenda, which is being driven by Joyce, who has also gained oversight of environmental policy under Cabinet committee changes earlier this year. He has strongly advocated more mining, oil and gas exploration, and agricultural intensification in recent weeks.

“The Small Advanced Economies initiative is about how small nations that face similar challenges and opportunities in an increasingly inter-connected and competitive global economy can learn from each other,” said Joyce.

“It is intended that each country will contribute senior leaders in the area of science and innovation, as well as in foreign policy and trade policy. They will discuss how our countries can best position themselves for growth by developing and harnessing the power of innovation."

The meeting is being jointly led by the Prime Minister’s Chief Science Advisor Sir Peter Gluckman, the Ministry of Foreign Affairs and Trade, and the Ministry of Business, Innovation and Employment.

The five countries involved have populations of between four and eight million.

(BusinessDesk)

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