25 Jun 2003

Niue's finance minister says New Zealand will assist in investment proposals

4:09 pm on 25 June 2003

Niue's finance minister, Toke Talagi, says New Zealand will provide a mix of expertise and financial assistance in the areas the island wants investment in.

Mr Talagi, who's met with associate foreign minister, Marian Hobbs and economic development minister, Jim Anderton, says Niue provided proposals for investment in tourism, long line fishing and the cultivation of vanilla.

He says New Zealand appears to be willing to help.

"One of the things that I've found as Minister of Finance is the fact that I can't borrow money or get money for investment purposes in those particular areas that we would like to invest in. So we basically come to New Zealand and say, well, if we can't borrow then can you lend us the money, give us the money so that we can do that. The assistance that New Zealand is going to provide is going to be accommodation of expertise and some financial assistance."

Mr Talagi would not put a figure on the financial assistance that Niue would like.

He says he and the premier, Young Vivian, are continuing discussions and are visiting Napier to further proposals for a long line fishing joint venture.