"This relationship is an example to the rest of the country of how CRIs and universities can ultimately contribute to better economic, environmental, and social outcomes for their respective regions," he said.
"We are already working together in areas such as identifying research topics for graduate students and developing executive education programmes that will meet industry and the region's capability needs."
Professor Crawford said the two organisations had already identified areas of mutual interest including building the Maori economy, resource-use efficiency, and engineering and application of a range of biotechnologies.
"Scion has a long history in these areas to create wealth in the forest sector and we look forward to sharing our knowledge with them to assist the industry to reach its 2022 target of $12 billion export earnings for New Zealand."
The agreement also provides for shared facilities and a visible presence for Scion on the university's Hamilton and/or Tauranga campus and for the university on Scion's Rotorua base, Te Papa Tipu Innovation Park.
Scion's Dr Parker said because of the CRI's focus across the forest industry's value chain - from healthy productive forests to low emission, renewable bio-energy - the agreement with the University of Waikato was a perfect match.
"Research is the foundation of what we do, and we are very pleased to have formed this strategic relationship with the University of Waikato as a regional initiative to foster and grow tertiary education and research in the areas that matter to us and to the whole country."