NZ government signs historic Maori land deal
Updated
The New Zealand government has signed the most expensive treaty settlement in the country's history.
Our New Zealand correspondent, Kerri Ritchie, says under the deal prime forestry land will be handed back to Maori tribes.
Hundreds of Maori packed into the parliament to watch the signing of the treaty, which is being dubbed "treelords".
Under the deal, 170,000 hectares of forestry in the North Island will be handed back to 100,000 Maori from seven tribes.
The agreement is estimated to be worth more than $US300 million.
Maori claim the land was taken unfairly after British settlers arrived in the mid-19th Century.
Rawiri Te Whare says the deal will make a real difference.
"It will go a long way in ending our grieving because we do want to grow and develop socially and economically," he said.
Over the past 20 years the New Zealand government has been negotiating with Maori in the hope of settling historic grievances.
