New Zealand’s Minister for Customs, Casey Costello, has articulated the need for a shift in the country’s approach to aid in the Pacific, advocating for a blend of traditional aid with long-term investments. During an appearance on Pacific Mornings, Costello reflected on her recent representation of New Zealand at the United States Pacific Agenda Investment Security and Shared Prosperity Summit in Hawai’i, where she emphasized the necessity of integrating aid with investments to spur sustainable growth.
“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 stated. She emphasized the need to mitigate risks associated with investment in the Pacific region, encouraging businesses to invest in long-term projects that would not only create jobs but also elevate wages and develop skills within these communities.
Costello acknowledged the unique needs of smaller Pacific islands, which still heavily depend on aid and support, highlighting that this aspect was also a vital part of the discussions at the summit. Furthermore, she noted the connection between economic strength and security, citing organized crime as a significant concern in financially vulnerable nations. “The Pacific is reliant on the fishing industry, and there are vulnerabilities when you’re out in the open ocean,” she added.
The summit, which gathered various Pacific leaders, senior U.S. officials, and private investors, centered around enhancing investment opportunities, reducing barriers to investment, and accelerating project readiness. Henry Puna, former Prime Minister of the Cook Islands and Secretary-General of the Pacific Islands Forum, described the summit as a success, emphasizing the importance of fostering private investment in the region. He reflected positively on the open and honest exchanges that took place, which he believes are critical for mutual understanding.
Costello reiterated New Zealand’s commitment to partner with Pacific nations, ensuring that the approach is collaborative rather than imposing. “Our place is to facilitate working with good New Zealand companies that have been working in the Pacific delivering projects,” she explained. This emphasis on partnership highlights New Zealand’s dedication to working alongside Pacific leaders to support the region’s development while respecting their autonomy. The article paints a hopeful picture of collaborative investment strategies that could lead to economic growth and stability in the Pacific Islands community.
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