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Fisheries Resources Must Stay In NZ Hands

New Zealand First is warning that a major part of New Zealand’s fishing interests is in danger of being sold to foreign control “through the back door.”

The Leader, Rt Hon Winston Peters, said today that foreign bidders are being favoured to take over Brierley’s fifty per cent stake in the joint venture company Sealords and its quota holding arm Te Ika Paewai.

He pointed out that Brierley’s was a New Zealand based company when it entered the joint venture with the Waitangi Fisheries Commission.

“The directors of the Waitangi Fisheries Commission, the other stakeholder in Sealords, appear to be favouring the sale to a foreign bidder without consultation.

“The Sealord deal was a major Treaty settlement. The Commission should have discussed the partnership issue at a series of hui because most New Zealanders would obviously prefer to see access to this large amount of quota kept in local hands,” said Mr Peters.

He called on the Finance and Maori Affairs Ministers to give an assurance that they would prevent the Overseas Investment Commission fast tracking further sales of New Zealand fishing assets to foreign interests.


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