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Iwi Are Doing It For Themselves

Media Release
22 December 2005

Iwi Are Doing It For Themselves

New Zealand First says that the joint fisheries venture between Ngai Tahu and Tainui iwi makes good business sense, and sets a healthy precedent for inter-tribal economic co-operation.

“Ngai Tahu and Tainui are multi-million dollar enterprises, and it makes perfect sense to pool their resources to create a fishing enterprise,” said Maori Affairs and Fisheries spokesperson Pita Paraone.

“Both iwi have proved their business acumen by significantly increasing their tribal assets after their Treaty of Waitangi settlements. Ngai Tahu has more than trebled its 1998 settlement of $170 million, while Tainui is no slouch either, having almost doubled its 1995 settlement of the same amount.

“This venture shows a logical and potentially lucrative approach to the mutual goal of increasing resources of the iwi for the benefit of their people, and I congratulate the tribes on their collaboration.

“Provided that the sustainability of the fisheries resource is catered for in the business plan, I predict that we are witnessing the beginning of a fisheries powerhouse. We are also witnessing the beginning of a new era in inter-tribal economic co-operation,” said Mr Paraone.

ENDS

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