The measure was adopted by 4 votes to 3, and the project could be presented to the Assembly in an extraordinary session as early as Thursday.

This draft resolution defines the objectives of the Tahiti Pearl Consortium semi-public company (SEM) as well as the terms of participation in the capital of this new entity. The government plans to hold 85% of the shares, representing a financial contribution of 505 million XPF. This approach marks a departure from the initial model, which had suggested a more balanced 51%-49% split between the government and private investors.

The SEM will be tasked with replacing the public industrial and commercial establishment Maison de la Perle, which is expected to be dissolved in 2014. Its responsibilities will include the marketing of Tahitian cultured pearls, prospecting for new markets, price organization, classification and evaluation of production, as well as the legal protection of pearl products. It will also be responsible for promoting pearls in both local and international markets, while coordinating production methods in collaboration with pearl farmers.