Efforts are underway to rejuvenate the cooperative movement in Fiji, placing a strong focus on the significance of Micro, Small, and Medium Enterprises (MSMEs). Esrom Immanuel, the Minister for Finance, underscored that the cooperative sector, which currently accounts for approximately 10 percent of the nation’s economy, holds considerable potential for expansion.
Immanuel pointed out that Fiji can learn from the experiences of countries like India and Indonesia, which have effectively bolstered their cooperative sectors. He remarked, “You are probably aware that this government is trying to rejuvenate cooperatives. When the new government came in, the cooperative sector—the cooperative movement—was probably in dire need of assistance. So now we are trying to rebuild the cooperative movement to model it after the MSMEs.”
The Minister expressed optimism that, similar to the advancements witnessed in MSMEs due to consistent support, cooperatives in Fiji can experience a comparable level of growth and triumph. This initiative not only represents a vital opportunity for economic development but also aims to empower communities as the government works to fortify its cooperative framework. By leveraging the strengths of cooperatives, Fiji is poised to foster a more inclusive and resilient economy.