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BUSINESS

Angkasa, ICA-AP to boost business relations among regional cooperatives in 2023

01/12/2022 06:34 PM

KUALA LUMPUR, Dec 1 (Bernama) -- Cooperative movement Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) and the International Co-operative Alliance Asia and Pacific (ICA-AP) have agreed to enhance business relations amongst cooperatives in the Asia-Pacific region through the strengthening of strategic cooperation in 2023.

Angkasa president Datuk Seri Abdul Fattah Abdullah said that the joint effort aims to increase the involvement of cooperatives in high-impact businesses as well as to promote Malaysia as a regional production centre for the 29 member countries of ICA-AP.

"We are encouraging the involvement of cooperatives through inter-cooperative business activities in this region which has 1.5 million registered cooperatives and about 729 million members in total.

"Additionally, Angkasa and ICA-AP seek to achieve an estimated 10 per cent of the trade value out of the total market share worth about US$390 billion (US$1=RM4.41) generated in the Asia-Pacific region each year," he said.

He was speaking to the media after chairing a meeting of the ICA-AP trade and business committee attended by representatives from 11 cooperatives from nine countries, namely Malaysia, China, India, Iran, Korea, the Philippines, Sri Lanka, Palestine, and Nepal.

Abdul Fattah, who is also vice-president of ICA-AP, said that four areas will drive Angkasa’s effort to encourage business activities between the Malaysian cooperatives and regional country cooperatives, especially those from Iran, India, and Korea.

"We have taken steps to promote halal-based products, Islamic finance, school cooperatives model, and community cooperatives for the Islamic countries in the Asia-Pacific region.

"The issue of food security will also be given attention, especially halal food, in that we want to ensure cooperatives in countries with excess production are able to export their products to other countries," he added.

-- BERNAMA


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