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New Report Identifies Solutions to NZ's Economic C

A landmark report released by NZBIO identifies the future of New Zealand’s economy and the wellbeing of its people is underpinned by innovative bio-based industries.

Driving Economic Growth through Bio-Based Industries: The 2009 Bioeconomy Industry Summit Report details the steps that must be taken to enable New Zealand to benefit from its existing and emerging Bioeconomy. The report provides a clear strategy to improve New Zealand’s future economic performance and enable New Zealand to face global challenges.

The Report captures the outcomes of the inaugural Bioeconomy Industry Summit, held in June and July 2009 by NZBIO. The Summit brought together a group of bioscience industry leaders for two days dedicated to identifying how New Zealand’s bioeconomy can realise its potential.

“The OECD has estimated the potential contribution of the Bioeconomy to New Zealand’s GDP at up to $182 billion by 2030. We cannot afford to ignore this projection or to let the opportunity pass New Zealand by when other countries, including Australia, are steadily increasing levels of support for their local bio-based industries,” said NZBIO Chief Executive, Bronwyn Dilley.

“Over 70% of New Zealand’s export earnings are derived from bio-based industries spanning human and animal health, agriculture, horticulture and other natural products. Exports include novel intellectual property, finished products and ingredients for the food, cosmetics, nutraceutical, pharmaceutical and medical technology industries.

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“New Zealand has a strong history of excellent science which is internationally recognised. Together this history and our increasing scientific and commercial expertise form the foundation of a new Bioeconomy based on the application of biotechnology to primary production, health and industry.

“New Zealand is known internationally for the quality of its primary production sector. What is less well recognised is the significance of the scientific advances in biotechnology which underpin the sector’s international leadership, and the world class niche capabilities New Zealand has in the application of biotechnology to human health and industrial applications.”

The report identifies that bio-based industries have the potential to generate:
• Increased Gross Domestic Product
• Increases in labour and resource productivity
• High value-add innovative export products
• Increased intellectual capital and skills within New Zealand
• Niche opportunities in novel technologies for health and industrial/environmental applications.

“The 2007 OECD Review of the New Zealand Innovation System identified that the application of biotechnology to agriculture and niche areas of health and industry is an area where New Zealand demonstrates international competitive advantage. It is important that we build on this already established reputation of excellence,” Ms Dilley added.

“NZBIO firmly believes that that New Zealand should build on this natural competitive advantage in the biosciences by harnessing the strengths of our research and development capability, our leadership in primary production and niche areas of health and industrial applications and utilise other supporting technologies in ICT, nanotechnology, engineering and high tech manufacturing.”

ENDS

Visit the Reports page of the NZBIO website on to download a copy of Driving Economic Growth through Bio-Based Industries: The 2009 Bioeconomy Industry Summit Report www.nzbio.org.nz

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