Finance Minister Esrom Immanuel underscored the government’s dedication to revitalizing Fiji’s cooperative sector during the ongoing Pacific Regional Dialogue on Cooperatives in Nadi. He pointed out that the cooperative sector has faced significant struggles and is in dire need of support since the Coalition Government assumed power.
Currently, cooperatives contribute approximately 10 percent to Fiji’s local economy, but Immanuel highlighted that there is considerable room for growth. He drew comparisons with micro, small, and medium enterprises (MSMEs), noting that MSMEs have progressed further at this stage. The conference aims to examine successful cooperative models from countries such as India and Indonesia, which have robust cooperative systems.
The Minister committed to translating the conference’s insights into actionable plans, particularly aiming to institutionalize cooperatives and amend relevant legislation. He stressed the necessity to modernize cooperative practices, strengthen governance frameworks, and harness technology to boost their efficiency.
This three-day event is co-hosted by the International Cooperative Alliance Asia and Pacific (ICA-AP) along with Fiji’s Department of Cooperative Business, with additional support from the ICA–EU Financial Framework Partnership Agreement. Bringing together senior government officials, cooperative leaders, development partners, and practitioners from across the Pacific, the dialogue is geared towards enhancing regional cooperation and forging practical solutions for economic empowerment, food security, and sustainable development in the area.
The revitalization of the cooperative sector signifies a hopeful advancement towards economic empowerment in the Pacific, promising to increase local economic contributions and foster sustainability initiatives in the future.