Waikato regional economic profile - Waikato Regional Council

Figure 4: Real value of goods and services exports 1971–2007 25Note: Index 1970 = 100.Approximately 31 per cent of GDP comes from exports currently. If this share is toincrease to 40 per cent, New Zealand would need to nearly treble the value of itsexports, from $60 billion to nearer $150 billion.1.3.2 Government’s Business Growth AgendaIn August 2011, Cabinet noted that a long run decline in New Zealand’s internationalcompetitiveness was hindering growth, and agreed to refresh the Government’s growthstrategy with the overarching goal of making New Zealand’s economy morecompetitive. 26In March 2012, Cabinet’s Economic Growth and Infrastructure Committee noted thatthe Business Growth Agenda was organised around six key inputs to business that thegovernment directly influences: capital markets; innovation; skilled and safe workplaces; resources; infrastructure; and export markets. 27The Government considers that access to these six inputs helps firms become morecompetitive and internationally connected. New Zealand needs business to sell morehigh-value goods and services overseas in order to raise living standards.The Government’s Business Growth Agenda includes a focus on:increasing business investment in research and developmentimproving access to capital for business growthsupporting the efforts of business to connect internationallybetter aligning our education and training with the needs of businessesdeveloping our high-value manufacturing and services industriesexpanding the high-value foods sector, andincreasing the returns from tourism.25Boven et al (2010, p. 2).26Cabinet Minute of Decision CAB Min (11)31/11 (August 2011).27Cabinet Economic Growth and Infrastructure Committee Minute of Decision EGI Min (12) 3/1 (7 March 2012).Page 8 Doc #: 2069885