Duval Times

U.S. Senator Marco Rubio (R-FL) has called for new investment in the Cook Islands, following the recent recognition of the nation as an independent state. In a letter addressed to U.S. International Development Finance Corporation (DFC) CEO Scott Nathan, Rubio urged the review of the Cook Islands' eligibility to receive BUILD Act loans for the development of seabed mineral resources.

Rubio emphasized the importance of partnering with countries that align with U.S. economic and national security interests. He stated, "The implementation of the BUILD Act, thus far, has been disjointed from our national interest, and distracted by partisan virtue signaling. It is not too late to use your authority to prioritize the U.S. national interest and support the efforts of the Cook Islands to develop these mineral resources."

The Cook Islands, which is freely associated with New Zealand, has sought access to DFC loans to finance the development of critical mineral resources within its territorial waters. However, the DFC has declined support due to New Zealand's high-income status. With the recent recognition of the Cook Islands as an independent state by the United States, Rubio urged the DFC to assess the Cook Islands' eligibility separately from New Zealand.

Rubio highlighted the strategic significance of the Cook Islands' seabed, which contains a high-density deposit of critical minerals, including rare earth elements. These minerals are in growing demand and require the development of secure and reliable supply chains for American economic security and prosperity. The Cook Islands has demonstrated its commitment to partnering with the U.S. and has actively rejected involvement from the People's Republic of China and the Chinese Communist Party.

In his letter, Rubio stated, "It is clearly in the economic and national security interest of the U.S. to assist the Cook Islands in this effort." He called for the utilization of DFC authority to prioritize the U.S. national interest and support the Cook Islands' endeavors to develop their mineral resources.

The recognition of the Cook Islands as an independent state by the United States provides a unique opportunity to reassess the country's eligibility for development financing support. Rubio's call for new investment in the Cook Islands aligns with the goal of diversifying supply chains and reducing reliance on foreign adversaries.

As the Cook Islands seek closer ties with the U.S., including through an economic partnership for the development of mineral resources, Rubio's letter emphasizes the potential benefits to American national security interests. The Cook Islands' efforts to develop critical mineral resources can contribute to the establishment of secure and reliable supply chains, aligning with U.S. economic and national security objectives.

Rubio concluded the letter by expressing gratitude for Nathan's attention to this important matter. The senator's advocacy for the Cook Islands highlights the potential for increased cooperation between the U.S. and the nation, as well as the broader significance of investing in critical mineral resources for national security and economic prosperity.

To find out more, go to this link: https://www.rubio.senate.gov/rubio-urges-new-investment-in-the-cook-islands/