17 April 2003 Media Statement

Economic study into GM published

A report on the economic risks and opportunities from releasing genetically modified organisms in New Zealand was released today by Environment Minister Marian Hobbs.

Commissioned by the Ministry for the Environment and Treasury, the research is part of the government's response to the Royal Commission on Genetic Modification. It is one of many initiatives the government is undertaking to ensure the appropriate regulatory system is in place when the moratorium on releasing GMOs lifts on October 29.

"The report confirms the government's cautious, case-by-case approach based on preserving opportunities," Marian Hobbs said. "The research shows that the most likely economic impact from the careful and considered release of GMOs would be a small increase in GDP over 10 years, compared to a small decrease from forgoing GMO releases.

"The report also confirms that the most beneficial way ahead is to actively manage the potential risks and enhance the potential benefits. The government is doing this through its response to the Royal Commission report and in its safe sensible approach to GM."

The report was prepared by a team led by Business and Economic Research Ltd (BERL) and is available here:
http://www.scoop.co.nz/stories/PA0304/S00363.htm

ENDS

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