11 Jun 2013

Govt sees research funding as essential

6:42 am on 11 June 2013

The Government says hitting the target of doubling primary sector exports by 2025 won't be possible without the research and innovation being funded under its Primary Growth Partnership programme.

The PGP programme has been running for three years, with the Government and industry bodies committing almost $660 million so far to 13 projects.

Primary Industries minister Nathan Guy told a gathering at Parliament on Monday night that the economic benefits from PGP will help to bridge the gap in meeting the export target.

He said Primary Industries are forecast to to grow by just over 7% a year almost enough to reach the double by 2025.

Mr Guy said investment in irrigation, a growing Maori agribusiness and free trade agreements would all drive exports and he said the PGP had the potential to earn $7 billion a year by 2025.