Hon Steven Joyce
Minister of Science & Innovation
23 August 2012 Media Statement
NZ to host small advanced economies meeting

The opportunity for small advanced economies to learn from each other will be explored when a meeting of a number of those countries takes place in New Zealand later this year, Science and Innovation Minister Steven Joyce announced today.

Speaking at a Royal Society of New Zealand event in Auckland tonight, Prime Minister John Key said that five countries will participate in a meeting in November in Auckland – Denmark, Finland, Israel, Singapore and New Zealand – and others have also expressed an interest in attending.

It is hoped the meeting may develop into a network of small advanced economies.

“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,” Mr Joyce says.

“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.

“New Zealand, for example, needs to make progress on better commercialising our ideas. That’s an example of where learning from the experience of those other small economies will be very valuable.”

The Small Advanced Economies 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.

The first meeting will be held over two days in Auckland in November and more details will be announced closer to the time.

ENDS

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