Ethnic Xchange Symposium: Unlocking Economic Potential of NZ's Ethnic Communities

“One of my top priorities as Minister is unlocking the economic potential of New Zealand’s ethnic businesses,” said Ms. Lee.

This week’s first-ever Ethnic Xchange Symposium will focus on the critical role that ethnic communities and businesses can play in revitalizing New Zealand’s economy, according to Ethnic Communities Minister Melissa Lee.

“One of my top priorities as Minister is unlocking the economic potential of New Zealand’s ethnic businesses,” said Ms. Lee. “Ethnic communities contributed an estimated $64 billion to New Zealand’s economy in 2021. They are also the fastest-growing population group, having tripled in size since 1996, and the country boasts the highest migrant employment rate in the OECD.”

The symposium, organized by the Ministry for Ethnic Communities, aims to harness this growth by bringing together government officials, business leaders, and industry experts to explore ways to boost trade, investment, and innovation.

In addition to Minister Lee, other key speakers include Finance Minister Nicola Willis, Regulation Minister David Seymour, and Science, Innovation and Technology Minister Judith Collins KC. The event will focus on themes such as expanding exports and leveraging ethnic businesses' international expertise.

"Given this Government’s goal of doubling the value of our exports within the next decade, it’s fitting that we explore how ethnic businesses—known for their knowledge of overseas markets—can contribute to our trading aspirations," Lee added.

However, challenges remain. Ethnic businesses still face hurdles, including regulatory barriers, limited access to financing, and cultural differences. “While their contributions are significant, many ethnic businesses still cannot fully contribute to our economy due to these challenges,” said Ms. Lee.

The symposium will be held this Friday, 11 October, in Auckland. It seeks to find solutions to these obstacles and further integrate ethnic businesses into New Zealand’s economic growth strategy. More information and tickets are available at ethnicxchange.org.nz.