The New Zealand Manufacturing Alliance, of which Metals New Zealand is a member, has today released is Manufacturing Matters report – a comprehensive blueprint for working with government to strengthen manufacturing capability and reduce trade barriers to support the nation’s post-pandemic economic recovery.
The report, which was completed in February 2020, includes a range of policy proposals in the areas of innovation, capital and investment, trade, skills, procurement and achieving sustainable growth in a low-carbon economy.
The proposals are designed to address challenges to the sector’s future including growing trade protectionism, the transition to zero carbon, skills shortages, and the shift to the fourth industrial revolution.
The report highlights the crucial contribution manufacturing makes to the economy, accounting for 10 percent of New Zealand’s GDP and employment, more than half of exports and a third of business R&D expenditure it also underpins the success of other key sectors.
In particular, as New Zealand moves into the recovery phase, it will be critical that as a nation we continue to work with others in ensuring international trade laws are upheld in the face of a rising tide of protectionism and other unfair trade practices.
The pandemic has highlighted the weaknesses of globalisation, the frailties of international supply chains and the vulnerability of relying on income from tourism and international education as major sources of export revenue.
A vibrant domestic manufacturing sector is going to be critical to New Zealand’s economic recovery, building resilience against future global shocks whether they be pandemics, recession or the challenges of climate change or natural disaster.
New Zealand’s manufacturers are ready to work with Government to develop an industry transformation strategy to support the nation’s post-pandemic economic recovery.