Malaysian cooperative execs visit Phl

MANILA, Philippines -Officials and delegates from Malaysian cooperatives came to the Philippines recently to explore business opportunities for a sustainable regional economic development.

MATRADE Manila Trade Commissioner Nyaee Ayup said the Malaysian delegation led by Domestic Trade, Cooperatives and Consumerism Minister Dato’ Sri Hasan bin Malek and Malaysia Cooperative Societies Commission Executive Chairman Datuk Nik Ali Mat Yunus visited Manila on Jan. 25 to 27.

Malek said the visit to Manila was timely, as we prepare for the economic impact of the ASEAN Economic Community Declaration this year that will transform ASEAN into a region of single market and production base.

“I perceived, co-operatives in some ASEAN countries might be in a difficult and unsecure position to face the stiff competition from big industries of goods and services in the open market. I foresee that only big co-operatives might survived in the ASEAN single market. So, cooperatives in ASEAN countries should be united in order to sustain in the ASEAN Single Market,” Malek said.

The Embassy of Malaysia Trade Office (MATRADE) Manila said the delegates comprising of cooperative leaders visited the Cooperative Development Authority (CDA) and ACDI Multipurpose Cooperative to learn about the best practices in cooperative management adopted in the Philippines.

Malek said the Malaysian delegation learned how ACDI managed to expand and sustain its business with a very impressive turnover and diversified business.

“To me this is something daunting and a challenging task for management and the board. This is an excellent achievement so to speak,” he said.

They aim to make Malaysian co-operatives societies to remain vibrant by becoming the third engine of economic growth in Malaysia, thus contributing to value turnover of Malaysia Ringgit 50 billion by 2020.

They urged Malaysian cooperatives to explore business opportunities in financial services, wholesale and retail, tourism and personal & health care, agriculture and agro-based industry and plantation in local and international market.

“These so- called key result areas are what we are keen on exploring in the Philippines. Our cooperatives are ready to cooperate for a strategic partnership and My Ministry is also ready to facilitate wherever is needed or necessary, Malek said.

Yunus said Malaysian cooperatives movements must tap the huge market in the ASEAN region.

“I strongly believe the implementation of ASEAN Economic Community 2015 will bring great opportunities for Malaysian and the Philippines cooperatives’ societies to further strengthen the business cooperation,” Yunus said.

The Malaysian delegation was comprised of leaders from Koperasi Tunas Muda Sungai AraBerhad, KoperasiKoswip Malaysia Berhad (Koswip), Koperasi Telekom Malaysia Berhad, KoperasiSerbagunaAnak-Anak Selangor Berhad (Kosas), and KoperasiWawasan Malaysia Berhad (Kowamas). These co-operatives are among the best and successful cooperatives, listed as the best 100 co-operatives index in Malaysia and involve in investment and credit business activities.