Earlier this year the councils of both institutions investigated a number of collaboration options.
At this stage, a full merger to form a completely new institution has been identified as the preferred option likely to deliver the greatest benefits to the region.
The new institution could be established as early as January 1 2016, subject to Ministerial and Cabinet approval.
"While BoPP and Waiariki are each well performing institutions, a single institution would be better able to serve the current and future educational and employment needs and priorities of individual, communities and industry in the wider region.
"It would play a significant role in helping the region achieve its strategic goals by providing relevant education and training," Dr Barns said.
"The Bay of Plenty region has a significant population of young Maori who will be key contributors to the future workforce. By partnering more effectively with iwi, and providing greater access for dispersed communities, the proposed new institution could help to ensure better education and employment outcomes for young Maori."
For the foreseeable future, it will be business as usual for both BoPP and Waiariki and students will be able to complete their programmes of study.
Both institutions will continue to offer their wide range of programmes at certificate, diploma, degree and postgraduate level from campuses across the region and with various start dates throughout the year.
The proposed new institution would be governed by a new appointed council and led by a newly appointed chief executive.
On creation of a new institution, existing BoPP and Waiariki staff would be transferred, under existing employment conditions, to the new institution.
Subject to the engagement with staff, students, iwi and other stakeholders that is currently underway, the next step would be to seek the approval of the Minister for Tertiary Education, Skills and Employment of the business case for the merger.
Subject to the feedback received from the current stakeholder engagement, it is planned the two councils would forward the business case to the Minister next month.
Labour's Tertiary Education spokesman David Cunliffe said the institutions were "the latest victims of National's chronic underfunding of regional polytechs".
"Since 2010, the Government has made $60 million of real cuts to the budget for regional polytechs. As a result, there are more mergers like this one as polytechs in the regions struggle to do more with less.
"The key issue for the Bay of Plenty and Waiariki will be ensuring this merger does not stop people studying.
"Strong and vibrant regional polytechs mean every Kiwi has access to high quality education no matter where they live. We can't have people's postcodes determining the quality of their education.
"Mergers and cuts at regional polytechs are just one more example of the damage being done by National's neglect of the regions.
"We will be working with the regions to ensure that these polytechs continue to meet the needs of local people."
Visit www.boppoly.ac.nz or www.waiariki.ac.nz for more information about the closer collaboration between BoPP and Waiariki.
