21 Apr 2011

Cook Islands to establish retirement industry

3:08 pm on 21 April 2011

The president of the Cook Islands Chamber of Commerce says policy is being drawn up to enable the establishment of a retirement industry.

The comment follows last week's economic summit that gave members of the public and business community the chance to debate with Cabinet Ministers and jointly determine economic initiatives worthy of pursuit.

Steve Anderson says the Prime Minister has announced publicly that a retirement industry policy will be implemented as soon as possible.

Mr Anderson says there are a number of minor issues to be dealt with.

"In terms of land tenure and immigration status and upgrading of medical facilities and medical insurance and so forth. But they are all relatively easy to deal with."

Steve Anderson says initially the opportunity to retire in the Cook Islands would be offered to New Zealanders.