PRESS RELEASE BY THE MINISTRY FOR THE ECONOMY, INVESTMENT AND SMALL BUSINESS – “Cooperatives can offer solutions for today’s trade and social scenarios” – Minister Cardona

Minister for the Economy, Investment and Small Business Chris Cardona shed light on how cooperatives can actively contribute to the future of the economy, during the 2017 Cooperatives Europe General Assembly held in Malta.

Minister Cardona noted how cooperatives have historically addressed the general economic problem of under- or over- production, business uncertainty, and excessive costs which make them still relevant today. In the current economic scenario, countries at a national and European level are consistently working to find solutions to new challenges, such as the most recent anti-dumping methodology and the fostering of a climate of innovation.

Cooperatives are a major player in Europe’s economy, generating direct and indirect employment. They are not only important for the number of jobs they create, but also for the quality of work they strive hard to provide. The Minister said that the manner cooperatives help in limiting the growth of inequalities and promoting social cohesion is in line with the European Union’s and the Maltese Presidency of the EU Council’s call for a more just and social Europe.

Cooperatives are all about balance – one which is very hard to establish. Whilst cooperatives may not be the only solution, they can provide solutions. Their success lies in the active seeking out of their common values, said the Minister.

Minister Cardona concluded by congratulating the local cooperative movement, in creating more employment and opportunities for its members.

Source: Government of Malta