Financial Secretary Office News

Financial Secretary Office News

Rarotonga to Host the 2015 Meeting of Forum Economic Ministers, Trade Ministers and Private Sector Dialogue Workshop

Minister Brown announced that Rarotonga would be hosting a combined meeting of the Pacific Forum Economic Ministers (FEMM) and Pacific Forum Trade Ministers Meeting (FTMM) as well as the Private Sector Dialogue workshop (PSDW) will be held from 27 to 31 October 2015.

MFEM and MFAI will be working closely with the Pacific Islands Forum Secretariat on the logistics of the meeting.

Minister Brown was looking forward to the meeting.  “I expect to work closely with my colleagues from the Pacific on economic governance issues across the Pacific during that week.  The last joint meeting between the Finance Ministers and another Ministerial meeting was in Honiara where a number of measures to combat NCD’s were announced.  Obviously, there will to be some natural synergies between the private sector across the region and the economic and trade Ministers.”

More information is available from the Pacific Forum Secretariat website on http://www.forumsec.org/pages.cfm/economic-governance/.


Order in Executive Council authorises changes in expenditure for 2014/15

In line with Article 70 (3) (b) of the Cook Islands Constitution an Order in Executive Council was passed to authorise the modification of spending in some areas. 

Additional spending of $1.688 million has been approved in 2014/15. This has been offset by $1.6 million in savings which will be sequestered from the underwrite of the long haul flights to Los Angeles and Sydney.  An additional $3.5 million is estimated to be received in 2014/15 from fishing activities. 

A final estimated outcome for the 2014/15 Budget will be provided at the time of presenting the 2015/16 Budget, a preliminary unaudited actual outcome for 2014/15 will be provided in the June 2015 Quarterly Financial Statement.

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Cook Islands' New Circulating Coins (Press Release 2015.03.02)

The Minister of Finance, the Hon Mark Brown, will shortly be arriving in Australia to officially strike the Cook Islands’ new circulating coins to be released later this year.

In August 2013, Minister Brown announced that the Government will launch a set of new coins to celebrate the 50th anniversary of Cook Islands self government on 4 August 2015.

On 4 March 2015, Minister Brown will officially start production of each of the six denominations of the Cook Islands’ new coins in a ceremony at the Royal Australian Mint in Canberra.

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