The Cook Islands finance minister Sir Terepai Maoate, has set up a committee to draw up a rescue package for the country's shrinking offshore industry.
The committee has 30 days to develop steps the industry and the government needs to take to ensure the offshore industry starts growing.
Committee member Puai Wichman, says the Cook Islands has huge potential as a jurisdiction but languished behind others.
Sir Terepai says he is confident that the committee will be providing him with the best advice on the way forward.
