Co-operatives are critical for development and crucial contributions to the economy – Kamikamica

Co-operatives are critical for development and crucial contributions to the economy as they help to sustain the livelihoods of women and young people.

Deputy Prime Minister and Minister for Trade and Cooperatives, Manoa Kamikamica highlighted this during the International Co-operative Day at the Labasa Civic Centre.

Kamikamica says the International Day of Co-operatives is annually commemorated on the first Saturday of July.

The Minister says the Co-operative Day aims to increase awareness of cooperatives as well as networking with relevant stakeholders for the improvement of businesses.

He says this underscores the contributions of the cooperative movement to resolving the major problems addressed by the United Nations and strengthening and extending the partnerships between the international co-operative movement and other actors.

Kamikamica says cooperative identity, values and principles set a strong system for achieving the Sustainable Development Goals. MSMEs present today are showcasing their high standards for inclusive and sustainable growth.

The Minister says cooperative youths are empowered to lead the way by giving them opportunities, transferring knowledge, and ensuring diversity, equity and equality for all.

He says the Fiji Cooperatives hold $151 million worth of assets, earning revenue of $26 million and generating $2.5 million in profits. Kamikamica further says the coalition government is focusing on improving the business environment such as simplifying tax systems and compliance and it is pleasing to see an increase in land-owning units forming cooperatives and engaging in joint ventures with stakeholders such as Fiji Sugar Corporation.

He adds this guarantees that our resources are used in a way that promotes sustainability, allowing future generations to benefit as well.

This year’s theme is "Cooperatives Build a Better Future for All” and the celebration will mark the 30th International Day of Co-operatives recognized by the United Nations and the 102nd International Cooperative Day.