Ewon Calls For Empowerment Of ASEAN Cooperatives To Drive GDP Growth

GENERAL
KUALA LUMPUR, May 13 (Bernama) -- The cooperative movement within ASEAN member countries plays a key role in strengthening the regional economy and significantly contributing to Gross Domestic Product (GDP).
Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick said that as of December last year, the Malaysian cooperative movement recorded a turnover of RM68.2 billion, with assets totalling RM173.3 billion.
'The cooperative network must be expanded to include cooperatives from ASEAN member countries so that the turnover generated can extend beyond the domestic market and reach international markets.
'I would like to see these cooperatives develop capabilities similar to those of large national companies that penetrate international markets with their products and services,' he told reporters after officiating the ASEAN Cooperative Dialogue (ACD 2025) here today.
Also present was Asean Cooperative Organisation (ACO) president Datuk Seri Dr Abdul Fattah Abdullah, who is also the Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa) president.
Elaborating, Ewon said that the participation of Malaysian cooperatives and small and medium enterprises (SMEs) in a trade expo in Saudi Arabia last year was part of efforts to strengthen the cooperative movement.
'This year, we will participate in several expos, including in Osaka, Japan next month and I would like to see Malaysia's involvement extend not only to large companies and SMEs, but also to cooperatives.
'Under the Malaysian Cooperative Policy (DAKOM) 2030, we have set a target for increased revenue by 2030. I believe this goal is achievable, and it should not be confined to the domestic market. We must encourage, assist, guide, and fully support cooperatives in penetrating international markets,' he said.
Earlier, during a bilateral meeting with his Timor Leste counterpart Araenio Pereira Da Silva, Ewon said Timor Leste expressed hope for cooperation in cooperative capacity development to be formalised through a memorandum of understanding.

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