January 13, 2012
Minister Marks International Year of Co-operatives
The Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development, joined representatives from local co-operatives last night as the Newfoundland-Labrador Federation of Co-operatives launched 2012 as the International Year of Co-operatives. The event was part of the Canadian launch of the International Year of Co-operatives, which took place in 14 cities across Canada.
In December 2009, the United Nations General Assembly declared 2012 as the International Year of Co-operatives. The United Nations’ designation acknowledges the value of co-operatives in stimulating economic activity, responding to social change, and creating employment opportunities in various industry sectors.
“Co-operatives are key vehicles in improving social and economic conditions in communities of all sizes,” said Minister Hutchings. “Their significance and role in the delivery of important services, as well as creating new employment opportunities is captured in the United Nations declaring 2012 as the International Year of Co-operatives. I was pleased to have the opportunity mark this occasion.”
In his remarks, Minister Hutchings touched on the broad scope of co-operatives and their role in the daily lives of residents.
“Co-operatives exist in every sector of our economy and impact many individuals on an almost daily basis,” said Minister Hutchings. “Individuals can live in a housing co-operative, purchase food and clothing from retail co-operatives, conduct banking at a credit union, and secure insurance from an insurance co-operative. The impact is enormous.”
In 2012, the Provincial Government and Newfoundland-Labrador Federation of Co-operatives will renew its Memorandum of Understanding. It is an action-oriented agreement that will re-affirm working relationships between the two parties, advance the regional developers network, promote co-operative opportunities for youth, and develop opportunities for industry sectors.
The Newfoundland-Labrador Federation of Co-operatives will also host a series of provincial events throughout the year, creating awareness of the importance of co-operatives.
“The Newfoundland-Labrador Federation of Co-operatives, along with local co-operatives and credit unions across the province, will be hosting a series of celebratory events to increase awareness of the important role they play in the community development process,” said Gail Pike, President of the Newfoundland-Labrador Federation of Co-operatives. “For over 100 years the co-op business model has been a mechanism through which local people have been able to collectively own and control local enterprises, create jobs and invest in their communities. We congratulate our thousands of members and owners in the province for the good work they continue to do to make their communities better places to live.”
In Canada, there are approximately 9,000 co-operatives with a value of more than $275 billion in assets which employ approximately 155,000 people. In Newfoundland and Labrador, there are 70 co-operatives operating in the province, helping facilitate greater activity in established and emerging industries.
“As we continue to advance our working relationship with the Newfoundland-Labrador Federation of Co-operatives, we are looking to harness the potential of co-operatives in our communities and regions,” said Minister Hutchings. “We strongly believe that through co-operatives we can continue to see growth in such industries as agriculture, forestry, film, and finance.”
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Photo: The Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development, along with members of Newfoundland and Labrador’s co-operatives, mark International Year of Co-operatives at an event at The Newfoundland Independent Filmmakers Co-Operative.
Media contacts:
| Scott Barfoot Director of Communications Department of Innovation, Business and Rural Development 709-729-4570, 690-6290 scottbarfoot@gov.nl.ca |
Glen Fitzpatrick Managing Director Newfoundland-Labrador Federation of Co-operatives 709-726-9431 |
2012 01 13 9:45 a.m.