The Minister for Customs says New Zealand’s traditional aid to the Pacific “has to have an end” and must be paired with long-term investment.
Speaking on Pacific Mornings, Customs Minister Casey Costello who represented New Zealand at the United States Pacific Agenda Investment Security and Shared Prosperity Summit in Hawai’i says aid and investment must work together.
“There’s a combination. We were very clear in what New Zealand’s position was about the place of philanthropic aid but there has to be an end,” Costello says.
“What we’re trying to do is de-risk investment in the Pacific so that businesses will be encouraged to invest into the long term and create projects that will lift wages, the economy and build skills.”
“That’s what New Zealand’s position was, coming in and delivering something versus working with the Pacific, working with New Zealand companies to deliver those projects so that we’re growing the skills in the Pacific and growing job opportunities,” Costello says.
“But, of course, there’s always the much smaller islands that will rely heavily on aid, support, assistance, and so that was also part of the dialogue in this.”
She says discussions at the summit also link economic strength with security concerns including organised crime.
“Nations that are financially insecure and vulnerable, their security is affected.
“The Pacific is reliant on the fishing industry, there are vulnerabilities when you’re out in the open ocean.”
This week’s Summit brought together a number of Pacific leaders, senior U.S officials and private-sector inventors.
Discussion around reducing barriers to investment, accelerating project readiness and connecting capital with opportunities across the Pacific took place.
Former Cook Islands Prime Minister and Secretary General of the Pacific Islands Forum (PIF) Henry Puna says the Summit was a success.
He points to the primary objective which is bringing in more private investment into the region and says the United States and Pacific relation is in a good space.
“That was one of the things that impressed me about the summit that people shared openly and honestly on the table,” Puna tells PMN.
“And that was really good to see because I believe that when we have opportunities like this, we’re going to share openly and that’s how you reach complete understanding with each other.”
Costello shares a similar message but says New Zealand’s role in the region is to work alongside Pacific partners rather than impose solutions.
“Our place is to facilitate working with good New Zealand companies that have been working in the Pacific delivering projects.
“That was part of my dialogue with the Pacific leaders was understanding, and they recognise the importance of ensuring that we’re not enforcing things on the islands, but we are working with the islands and I think that’s where New Zealand’s place is,” Costello says.
