20 Mar 2008

New Zealand open to assist Niue investments

2:35 pm on 20 March 2008

The New Zealand Foreign Minister, Winston Peters, says he is sympathetic to a request from Niue for financial assistance for investments made on the island by Reef Group.

Reef has started several businesses as the island strives to develop its economic independence.

Principal among them is a fish processor, and Reef is looking for Niue and its main aid provider, New Zealand, to pay some of the millions of dollars they have outlaid as capital.

Mr Peters says the issue is being considered.

"The Government is of the view that this, in the case of Tokelau, Niue and the Cook Islands, because of our particular and special relationship, an issue we should be looking at very very seriously. And looking at what is needed to sustain a long term viable business, where they are able to gain far greater value from their resources. This is something slightly new but it will be announced in the not too distant future."

Winston Peters