Cooperative businesses are essential for economic development, particularly in supporting the livelihoods of women and young people, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica.

During the International Day for Cooperatives at the Civic Centre in Labasa, alongside his permanent secretary Shaheen Ali, Mr. Kamikamica highlighted the significant contributions of Fiji’s cooperatives to the economy. These cooperatives collectively hold around $151 million in assets, generate $26 million in revenue, and earn $2.5 million in profits annually.

Mr. Kamikamica emphasized that the cooperative movement addresses major global issues recognized by the United Nations and fosters partnerships between the international cooperative movement and various stakeholders.

He pointed out that the identity, values, and principles of cooperatives provide a robust system for achieving sustainable development goals, noting that small and medium enterprises demonstrate high standards for inclusive and sustainable growth.

The Deputy Prime Minister also stated that young people in cooperatives are being empowered to lead by being given opportunities to manage businesses, which aids in transferring knowledge and ensuring diversity, equity, and equality for all.

The Government, he added, is focusing on improving the business environment by simplifying tax systems and compliance processes. He expressed satisfaction with the increasing number of land-owning units forming cooperatives and engaging in joint ventures with stakeholders such as Fiji Sugar Corporation.

This approach ensures that resources are managed sustainably, benefiting future generations.