New Zealand High Commissioner, Nigel Moore

Ladies and gentlemen

A very good morning

It is a great pleasure for me to be here with you. Today is an important milestone for Singapore-New Zealand relations as New Zealand has chosen to establish here its first overseas technology centre. Called the New Zealand Technology Centre (NZTC), it will serve as a beachhead for New Zealand companies to launch from Singapore into Asia and the rest of the world.

Early last year, Singapore signed its first bilateral FTA with New Zealand. Since then, Singapore has become one of New Zealand's most important trade partners. In year 2001, Singapore’s investments into New Zealand more than doubled to NZ$2.8 billion, up from NZ$1.1 billion in Year 2000. In the same period, Singapore continued to be one of the top recipients of investments from New Zealand; attracting NZ$175 million of investor commitments into Singapore.

We are honoured that Singapore has been chosen as New Zealand’s first overseas technology centre. It signifies our growing and strong Singapore-New Zealand relations. I am confident that we will stand to reap greater future benefits from our continued synergy.

Our two countries have many things in common – an island geography, a small population, settler-immigrant beginnings and a small domestic economy. Despite our small population size, we were able to rise above those limitations by capitalizing on our strengths.

Today, Singapore and New Zealand both share an enviable standard of living, with GDP per capita of at least US$13,000 and above. Our two countries have definitely registered ourselves on the world map. For Singapore – we are often recognized as a country with excellent infrastructure, winning consistent votes for best airport and airline.

New Zealand, on the other hand, has made international waves through your talented people. Sir Edmund Hillary conquered Mount Everest. New Zealand visual effects master Richard Taylor captured the imaginations of world audiences with the Oscar-winning movie The Lord of the Rings. Many are looking forward to the sequel "The Two Towers" to be released soon. Taylor is not stopping at that. In fact, he has partnered Eric Gruendemann, producer of Xena, a popular TV series, to explore how they can tap on the funding opportunities in Singapore with local venture capital firm, iGlobe Partners. When he was here in June, Taylor challenged our young people here to think big, dream and "just do it!" May I reiterate that same challenge now to New Zealand start-ups. Get up and go!

I am excited at the future prospects for Singapore and New Zealand. When we combine Singapore’s strategic pro-business advantages with New Zealand’s entrepreneurial character, we unleash a high potential for success. New Zealand is amongst the world’s top five most entrepreneurial countries according to the Global Entrepreneurship Monitor 2001. It also has the highest proportion (15% of population) of "opportunity entrepreneurs" in the world - people who spot a business prospect and pursue it. There are many opportunities open to New Zealand companies and Singapore can play a strategic role as their launch pad to Asia and beyond.

One such company is Beca, a New Zealand engineering consultancy group with over 1,200 staff worldwide, which uses Singapore as a launch pad to Asia for its expanding business. From its Singapore office of 130 staff, Beca Carter manages its regional projects across Asia. Their successful model is supported by Singapore’s strategic advantages.

From Singapore, New Zealand enterprises and start-ups are well-positioned to penetrate global markets from Singapore, their strategic launch pad. Right here, they have access to Singapore’s base of more than 6000 MNCs, of which more than half have regional responsibilities. Singapore will serve as New Zealand’s gateway to Asia and beyond. Within Singapore’s 7-hr flight radius is a market of more than half the world’s population at 2.8 billion. We can match the innovativeness and drive of your companies with our supportive environment for expansion, our global connectivity and our deep knowledge of the region.

Singapore’s expanding network of free trade agreements (FTAs) will serve as a key booster for New Zealand enterprises to propel ahead. These FTAs open up tremendous business opportunities and increased connectivity to new markets, with benefits open to all companies with a base of operations in Singapore. Currently, FTAs have already been signed with Japan and EFTA (the Europe Free Trade Agreement). Under negotiation are other FTAs with the US, Canada, Mexico and Australia.

Our vision is to provide a nurturing environment to help all enterprises based here to reach their potential. And to do this, we have built an enterprise ecosystem for enterprises large and small, local and foreign, to come together to collaborate, grow and globalize. This model aims to promote the economy’s total environment in the manner of a natural habitat, with companies from MNCs to startups interacting with partner companies, supporting industries, venture capitalists and other players like a rich variety of organisms thriving together in symbiosis. The interconnections help all organisms to grow and nurture new ones. Over time, this ecosystem could spawn a new breed of innovative companies evolving to form a new endemic species such as your national symbol, the Kiwi.

Our conducive ecosystem environment has been recognized and compared positively by international standards. Recently, the Entrepreneurial Survey Framework ranking by the Economist Intelligence Unit (EIU) scored Singapore tops in Asia and 12^th in the world. We welcome more New Zealand companies to set up operations here – they can leverage on our ecosystem to fuel their growth and tap on the S$14 billion worth of venture capital funds managed out of Singapore.

Many start-ups and enterprises that are innovative or creative are increasingly being attracted to Singapore. Just last month, we saw the opening of the Israeli technology hub, TechMatch Singapore. Earlier this year, the Koreans and Chinese were added to the pool of multi-national incubators, having already included Germany, Japan and India. The New Zealand Technology Centre will bring the total number of incubators in Singapore to 47.

May I congratulate Trade NZ on the successful establishment of its first beachhead at Phase Z.ro, the NZ Technology Centre in Singapore to support technology and market development of New Zealand enterprises. I am confident that as this centre marks a significant milestone in our bilateral relations, our economic ties and friendship will deepen through future interactions and partnerships between New Zealand and Singapore enterprises.

May there be several more auspicious firsts for both our countries. I eagerly anticipate our first fruits of success. To all New Zealand companies looking to expand outside their current boundaries, I say, get up and go! Singapore welcomes you.

_____________