9 Jan 2006

Cooks fish farm could boost Pacific region's economies

11:38 am on 9 January 2006

The first commercial fish farm of lagoon species in the Pacific region due to be set up in the Cook Islands could contribute to widening the economic base in the Pacific region.

Gotfish a new company headed by former secretary for Marine Resources, Navy Epati, has bought the exclusive rights to a technology which they will use to set up fish farms throughout the Pacific Islands and Pacific rim countries.

Mr Epati says the cost of setting up the Tanks will be around 688-thousand dollars each, but with an estimated production of around five thousand tonnes a year, it will have a positive impact on the region's economy.

"We are very, very confident that with the demand for fish out there and the efficiency and economics in using the technology we've got, that we are on to something that could possibly contribute to widening the economic base of island economies."