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VN, Malaysia team up to develop cooperatives

VGP - The Vietnamese Ministry of Planning and Investment and the Malaysian Ministry of Domestic Trade, Cooperatives and Consumerism on September 26 signed a memorandum of arrangement (MOA) on joint cooperation in developing their cooperatives.

September 27, 2012 2:03 PM GMT+7

The overview of the signing ceremony – Photo: VGP

Under the MOA, the two sides will step up commercial transactions between cooperatives of the two countries, through import-export activities, joint projects or market expansion.

They will also strengthen exchanges of information and expertise, cooperate on joint research and consultancy, hold education programs, and improve capacity of cooperative managers.

At the signing ceremony, Malaysian Minister of Domestic Trade, Cooperatives and Consumerism Ismail Sabri Yaakob and Deputy Minister of Planning and Investment Dang Huy Dong confirmed the importance of cooperatives in economic development and bilateral cooperation on the issue.

Viet Nam has as many as 19,500 agriculture and non-agriculture cooperatives. Meanwhile, Malaysian cooperatives have engaged in various fields, from agriculture to banking, housing, transport, health and services. In both countries, it is these cooperatives that have generated a great number of jobs and income for their members.

By Ngoc Van