NZ will not miss biotech opportunities

New Zealand may have opportunities on information and communications technology, but Pete Hodgson, NZ Science Minister, says he is determined not to let it happen again with biotechnology.

He told an international pharmaceutical research and development conference in Auckland that New Zealand had the medical and the agricultural foundations for a successful biotechnology sector. Mr Hodgson said " this is where it is at in the next century in terms of technology".

The government is also promoting the formation of a biotechnology taskforce to be serviced by Industry New Zealand but composed predominantly but not exclusively of private-sector people. "The biotechnology industry, whatever that is, will have to put up some cash, but because it is a new industry it will not have to front up with a lot," Mr Hodgson said.

"Its task will be to identify commercial barriers, human capital barriers, regulatory barriers, market barriers, to that industry growing faster and better than it does at the moment, and it's growing fast and well at the moment."