Thursday 28 March

Treaty Of Waitangi Fisheries Commission Annual Report Tabled In Parliament

The Minister of Maori Affairs and Associate Minister of Fisheries, Hon. Parekura Horomia, today tabled the ninth annual report of the Treaty of Waitangi Fisheries Commission (Te Ohu Kai Moana) in Parliament.

“It is pleasing to note that Te Ohu Kai Moana achieved a $37.1 million after-tax profit, a threefold improvement for the previous year, especially in a year where global trading conditions experienced a slowdown during the latter half,” Mr Horomia said.

Mr Horomia said total fees paid to Commissioners were down for the period under review. “This result shows again that Te Ohu Kai Moana has been a responsible and effective kaitiaki of the Maori Commercial Fisheries Settlement, which is estimated to now be worth around $800 million.”

Te Ohu Kai Moana currently holds around 33 percent of New Zealand’s aggregate Total Allowable Commercial Catch, making it a major player in New Zealand’s expanding seafood industry.

Mr Horomia said Te Ohu Kai Moana had been through a very busy and intensive financial year.

“At the beginning of the financial year, Commissioners had brought about a new alliance with Japanese fishing giant Nippon Suisan Kaisha Limited, in the Maori-owned Sealord Group. This represented one of the biggest transactions in New Zealand at the time.

“Among other areas of work, Commissioners had spent a large amount of time formulating new proposals for the allocation of the fisheries settlement, participated in dispute resolution to resolve outstanding litigation and worked to put Maori into the business of fishing,” Mr Horomia said.

He said a notable achievement was the implementation of the Commission’s Global Fisheries Programme scholarship worth $250,000 and awarded to two Maori each year. The scholarship allows Maori to gain international experience and skills in the fishing industry.

In tabling the annual report, Mr Horomia commended He Ture Pumau, a post-graduate law scholarship instituted by Te Ohu Kai Moana in conjunction with Nelson-based law firm, Fletcher Vautier Moore.

“I look forward to Commissioners’ building on their work in the fishing industry, completing work on allocation and putting to Government a new allocation proposal that has the widespread support of Iwi,” Mr Horomia said.

ENDS

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