Minister for Commerce and Trade Faiyaz Koya. [File Photo]

Over 100 new co-operatives have been registered since the pandemic.

Minister for Commerce and Trade Faiyaz Koya says for over 70 years, Fiji has been operating more than 400 co-operatives with assets worth $133 million.

He highlighted this as part of the International Cooperative Day commemoration last week.

Koya says that in the last three years, 263 young people including women have become part of the co-operative’s leadership position.

He acknowledged how this business model has the ability to generate equal economic participation and jobs.

The Minister says the cooperative business model provides hope to many budding entrepreneurs during trying times.

He adds that co-operatives are also rapidly adopting environmentally friendly and sustainable practices, joining the fight against climate change.