Building up our market development capability
Enhancing New Zealand Trade and Enterprise's ability to facilitate more market opportunities for New Zealand companies
is an important part of the Government's focus, Trade Negotiations Minister Jim Sutton said today.
Mr Sutton announced the Government intended to allocate up to $10 million a year extra to NZ Trade and Enterprise for
the next three financial years, rising to $12 million a year in 2007-2008 and subsequent years.
The extra funding, set aside as part of the 2004 Growth and Innovation contingency funding, would be used to strengthen
NZ Trade and Enterprise's global network. This would enable it to assist more effectively local industry to develop and
execute successful international market development strategies.
Mr Sutton said the proposed funding will pay to:
• Upgrade NZTE's global IT network and communications infrastructure;
• Upskill the existing global network ? for example, to ensure staff have more of the necessary strategic and
commercial skills, and to ensure greater foreign language ability; and
• Increase interaction between NZTE's onshore and offshore arms. This will help NZTE take its understanding of NZ
capability to global markets, and take its knowledge of international trends and demands to NZ businesses.
Mr Sutton said a recent review of NZTE's global activities emphasised the importance of stronger connections between NZ
businesses and leading world businesses in the same sectors.
"With better international connections, New Zealand companies will be better placed to extract benefits across the
"global value chain", that is, from initial development of ideas through to production, marketing and sales. It will
also give New Zealand better access to investment, as well as to the world-class technology, knowledge and skills that
can improve living standards."