Finance Minister Esrom Immanuel emphasized the government’s commitment to revitalizing the cooperative sector in Fiji during the Pacific Regional Dialogue on Cooperatives taking place in Nadi. He highlighted that upon the Coalition Government’s entry into power, the cooperative sector was struggling and in urgent need of support.
Immanuel noted that while cooperatives currently contribute around 10 percent to the local economy, there is significant potential for growth. He compared the state of cooperatives with that of micro, small, and medium enterprises (MSMEs), stating that MSMEs are more advanced at present. The purpose of the conference is to explore successful models from countries like India and Indonesia that have well-developed cooperative systems.
The Minister expressed his commitment to ensuring that the outcomes of the conference would lead to actionable plans, particularly focusing on the institutionalization of cooperatives and the need to revise relevant legislation. He also emphasized the importance of modernizing cooperative practices, bolstering governance, and integrating technology to enhance their effectiveness.
The three-day event is co-organized by the International Cooperative Alliance Asia and Pacific (ICA-AP) and Fiji’s Department of Cooperative Business, with support from the ICA–EU Financial Framework Partnership Agreement. The dialogue brings together senior government officials, cooperative leaders, development partners, and practitioners from across the Pacific, all aimed at fostering regional cooperation and developing practical solutions for economic empowerment, food security, and sustainable development in the region.
This reinvigoration of the cooperative sector represents a hopeful step towards economic empowerment in the Pacific, potentially leading to increased contributions to local economies and enhanced sustainability initiatives moving forward.