Fiji boasts a robust cooperative movement, with over 700 registered cooperatives across various sectors that manage assets totaling $151 million. These cooperatives play a vital role in the community, serving around 40,000 members while generating an impressive revenue of $26 million and reporting profits of $2.5 million.
In a significant event, Prime Minister Sitiveni Rabuka will inaugurate the International Year of Cooperatives 2025 today in Nausori. This initiative, proclaimed by the United Nations General Assembly, promotes the theme “Cooperatives Build a Better World.” The theme underlines the crucial role cooperatives can play in addressing global challenges and advancing the Sustainable Development Goals by 2030.
Since Fiji’s first cooperative was established in 1948, the sector has undergone considerable evolution. Initially concentrated on consumer services and copra production, cooperatives have since expanded into innovative fields like carbon trading and renewable energy, thereby enhancing the country’s economy.
The Fijian government recognizes the significance of cooperatives and has implemented various support programs to strengthen this sector, acknowledging its essential contribution to socio-economic development.
The rising participation in cooperative ventures reflects a commitment to vital social goals, fostering community enhancement and a recognition of the power of collaborative efforts. Additionally, initiatives aimed at empowering youth and women within the cooperative system are creating sustainable job opportunities and promoting values of shared ownership and democratic governance, key tenets of equality and respect.
The ongoing growth and diversification of Fiji’s cooperatives suggest a bright and equitable future for the country’s economy, pointing towards a more sustainable and inclusive societal framework. This momentum offers a hopeful outlook, indicating that cooperative businesses can continue to thrive and positively impact their communities.
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