FFNZ: Benefits of Biotechnology Clear Thursday, Oct 23, 2003
Reports of the global benefits to be gained by the worldwide adoption of biotechnology offer no surprises says Hugh Ritchie, National Board Member and GM Spokesman, Federated Farmers of New Zealand (Inc).
Mr Ritchie was commenting on the recently released Australian Bureau of Agricultural and Resource Economics (ABARE) study which analyses the economic effects of biotechnology on different countries.
“Federated Farmers has consistently held the view that GM technology offers potential and has therefore supported ongoing research that meets carefully considered criteria.
“Lifting the moratorium is an important component to ensure New Zealand based biotechnology related research is undertaken. The moratorium offered a significant disincentive as it denies all opportunity of commercial release. Few firms would invest knowing they had to rely on getting a ban lifted some time in the future.
“With the moratorium now lifted investment can occur and investment in GM technology in New Zealand can now be carefully considered on a case by case basis” Mr Ritchie concluded.