Dr Clark is ranked 10th in Labour's new line-up announced yesterday by new leader Andrew Little in what will be Mr Clark's second stint as economic development spokesman.
The second-term MP was identified early in his political career as someone expected to make a significant contribution to Labour in the future.
Mr Joyce tweeted his congratulations, noting it was Dr Clark's second time as economic development spokesman and pointing out Labour had appointed six economic development spokesmen since 2011.
Mr Joyce also made a point of Dr Clark being the highest-ranked South Island MP in the new line-up, three places ahead of Wigram MP Megan Woods - the only other South Island MP in the top 17 MPs announced by Mr Little.
Dr Clark is the first Dunedin electorate MP to make the front bench of Labour since the days of his Dunedin North predecessor Pete Hodgson and former finance minister Michael Cullen when he was the MP for Dunedin South.
List MP David Parker, who claims Dunedin as home, was on the front bench as finance spokesman and was a cabinet minister in former prime minister Helen Clark's governments.
Dunedin has a history of highly ranked Labour MPs, with former MPs Ethel McMillan, Bill Fraser, Stan Rodger and Clive Matthewson also fitting into that category.
Police Minister Michael Woodhouse, a National Party list MP from Dunedin, is the highest-ranked National MP from the city.
Dr Clark said in an interview he was looking forward to having the opportunity to take on Mr Joyce over what he said was the Government's failure to reposition the economy away from such a heavy reliance on the dairy industry.
''The global financial crisis ended but the targets Steven Joyce has set on unemployment and economic growth are still 10 years out. These are unambitious targets and the Government is still not meeting them.
''There is a real opportunity for Labour here. I have made a start on the portfolio and will review our policy settings, refreshing our agenda to have a policy fit for purpose.''
Dr Clark was honoured with the faith Mr Little had shown in him and he was anxious to repay that faith by working hard.
All of the newly announced top 17 Labour MPs had a year to prove their worth and Dr Clark reiterated, when pressed on his chances of remaining on the front bench, he would work hard to repay the faith.
Grant Robertson, the man Dr Clark supported in two previous Labour leadership challenges, was named as finance spokesman, with the Dunedin North MP as his associate. The men are good friends.
''It is ideal to have that working relationship with someone I trust and who trusts me,'' Dr Clark said.
