Prime Minister John Key says any support from New Zealand for the fight against ISIS is "the price of the club", in being part of the Five Eyes spying alliance.
Mr Key spoke about New Zealand's possible contribution to the war against ISIS in an interview with the BBC while on a visit to the UK overnight.
"We are exploring whether we will send a training contingent to probably work alongside the Australians in Iraq," he told BBC reporter Lucy Hockings.
"Not to accompany those forces as they go out to prosecute the Islamic State, but to train up."
Mr Key says New Zealand is not immune to the threat ISIS poses and can't solely rely on Britain and the United States to do "all the heavy lifting".
"I think all countries have to make some sort of contribution and that's a realistic one from our point of view," he said.
Mr Key says helping the United States and Britain in the fight against terrorism is about being a part "of the club".
The "club" Mr Key is referring to is The Five Eyes Alliance, an intelligence gaining group comprising New Zealand, Australia, Canada, Britain and the United States.
"Are we going to be part of the club, with Five Eyes intelligence, or are we ultimately going to be able to rely upon the members of those clubs to support us in our moment of need," Mr Key says.
"I think if you're going to take that view you can't say when the going gets tough you're just going to leave it to the other guys even if the contribution is small. Of course it will be proportional, there has to be some contribution, it's the price of the club."
Mr Key says if New Zealand doesn't act now towards defeating ISIS they could become a greater risk to New Zealanders.
Meanwhile, Mr Key and Trade Minister Tim Groser are in Switzerland for the world economic forum with more than 2,500 business, political and academic leaders from across the globe.