Radio New Zealand - Te Reo Irirangi o Aotearoa

Foreign investors 'could boost NZ food industry'

Updated at 10:14 am on 3 May 2012

An organisation representing New Zealand's exporters says foreign investment could expand the country's food and beverage export industry.

A report issued by the Government shows the sector exports $25 billion of product each year for which international customers pay up to $200 billion.

The report says 75% of the country's top food industry firms are owned locally.

Economic Development Minister Steven Joyce says the food and beverage industry is doing well but more needs to be done to build global competitiveness.

Export New Zealand says foreign ownership could be the key to increased export growth.

Executive director Catherine Beard says joint ventures with overseas partners could open new distribution channels.

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