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Te Ohu Kai Moana Annual Report

Friday, 30 March 2001 Media Statement

Te Ohu Kai Moana Annual Report

The Minister of Maori Affairs, the Hon Parekura Horomia tabled in Parliament today the 1999 –2000 annual report of Te Ohu Kaimoana, the Treaty of Waitangi Fisheries Commission.

Mr Horomia said he is pleased to see that Te Ohu Kai Moana had an operating surplus of $18.9 million before tax, a slight increase on the previous financial year.

The Minister also said as kaitiaki of the Maori commercial fisheries settlement assets, Te Ohu Kai Moana is continuing to grow and develop those assets for the benefit of all Maori.

"It is public knowledge that what was once a $200 million settlement has now grown to a market value of around $850 million. The commissioners, past and present, and the management of Te Ohu Kai Moana are to be congratulated for their work."

Mr Horomia said the commission now owns 33 percent of New Zealand's Total Allowable Commercial Catch, one third of New Zealand's commercial fisheries quota.

"Maori are now a major player in this country's fourth largest industry and they have expanded their development on an international front as well.

The Minister, who was recently appointed as the Associate Minister of Fisheries, said the assets from the settlement will play an important role in Maori economic development and growth.

ENDS

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