Last night, former Australian Prime Minister Hon John Howard OM AC spoke to guests of the Initiative on 'Trans-Tasman Relations in the Pacific Century'. Today we have an excerpt from our chairman's welcome speech, and next week we will publish an excerpt from Mr Howard's speech.

"In March last year, we formed The New Zealand Initiative from two predecessor organisations, the New Zealand Business Roundtable and The New Zealand Institute. The goal of our members in joining forces was to establish a new, independent think tank. Bringing the Institute and the Roundtable together has been an exciting and enjoyable process. And it’s hard to believe that we are about to celebrate our first birthday.

Our idea was to create a fresh, new voice in New Zealand public policy debates.

The result is The New Zealand Initiative.

The Initiative is two organisations in one – not just because it is the result of the merger.

On the one hand, we are a business membership organisation, bringing together the chief executives of New Zealand’s largest companies. On the other, we are an independent think tank committed to serious public policy analysis.

These two natures of The New Zealand Initiative go together well. And this is why.

We believe that, as business leaders we can make a contribution that goes beyond running profitable and enterprising companies.

By supporting an organisation that stands for independence, rigour and effectiveness in the development of social and economic policy, we can improve the prosperity and potential of all New Zealanders. This is what we as business leaders can and should do – and we hope that more businesses will join us in this process.

We firmly believe that our goals and values as business leaders are those of most New Zealanders.  We want New Zealand to have a world-class education system and to have affordable housing. We want to see an open economy; and a free and democratic society. We want to see the protection of our natural resources and heritage.  And we want to see; sound public finances; a growing economy, and a stable currency.

These goals are not business goals. They are not left-wing or right-wing goals. These are public policy objectives that most, if not all, New Zealanders would agree with.

The challenge in public policy is often not to define what you want to achieve. The real challenge is finding ways of achieving widely shared goals.

So the New Zealand Initiative is all about helping to create a free, fair and prosperous New Zealand and a dynamic, open and competitive economy that seizes the opportunities of its position in the Asia-Pacific.

It is in this spirit that we have invited former Australian Prime Minister John Howard to address us at our inaugural members’ retreat, and to share his insights into the value and the strength of the Trans-Tasman relationship in the Pacific Century.

Prime Minister, we are most grateful that you have accepted our invitation and we look forward to your address this evening."