There have been calls to set up a foundation to foster closer business and cultural ties with Latin America.
The region has a total GDP of US$6.6 trillion and New Zealand's trade is modest although the Government hopes it will grow.
Education New Zealand promotes this country to international students and chairperson Charles Finney supports the idea of setting up a Latin America-New Zealand foundation.
He the foundation would be similar to one established in 1994 to foster ties with Asia and would help the relationship.
Trade Minister Tim Groser agrees, but said the private sector wouild also need to stump up money to turn the idea into reality.
