The present call for recognition of Maori fishing rights is based on the Treaty of Waitangi. Similarities between the Maori rights and recent developments with North American Indian fishing rights are presented and discussed. Traditional Maori fishing and cultural values are discussed and a current Maori position outlined. Economic efficiency issues are examined, and the conclusion is reached that a change to more Maori ownership of fishing rights is unlikely to compromise economic efficiency. Issues arise in trying to value different cultural beliefs between two groups in society, but these differences can be accommodated within an economic model. The major issue is an equity concern, and the debate should concentrate on equity and the legal and moral ramifications of the Treaty of Waitangi.