Kazakhstan And ICA Unite To Boost Cooperatives Across Asia-Pacific

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 17. Kazakhstan's Vice Minister of National Economy, Yerlan Sagnaev met with Balasubramanian Iyer, Chief of the International Cooperative Alliance for Asia-Pacific, and discussed deepening cooperation across Asia-Pacific, Trend reports via the Ministry of National Economy of Kazakhstan.

The meeting was attended by representatives from government departments, national institutions, and key industry associations

Opening the meeting, Yerlan Sagnaev underscored that cooperatives play a special role in the economy: they engage citizens in entrepreneurial activities, create jobs, support small and medium-sized businesses, and act as a link between society and the state.

One of the key issues discussed was the development of a product certification system. Accredited laboratories that meet international requirements are already operating in Kazakhstan. Joint work to bring their activities in line with the standards of the Asia-Pacific countries will expand the export potential of domestic manufacturers.

The Vice Minister also noted that transportation connectivity remains a key factor for the development of cooperation in Kazakhstan. The completion of more than 800 km of railway tracks on the "Dostyk - Moyinty" section has significantly increased the country's logistics potential, providing more efficient access for goods to foreign markets.

Among promising areas of cooperation, participants highlighted the development of credit unions with flexible financing terms, at low interest rates or with repayment in the form of products. Kazakhstan intends to explore the possibility of implementing this practice.

In turn, Balasubramanian Iyer reminded that the UN General Assembly declared 2025 the International Year of Cooperatives under the motto "Cooperatives Build a Better World." He noted that cooperatives have a significant impact on economic, environmental, and social development: today, more than one billion people, or about 12 percent of the world's population, are members. Balasubramanian Iyer emphasized the readiness of the International Cooperative Alliance to work more actively in Central Asia, assist in finding new markets for sales and product promotion, and also offered Kazakhstan to join the ranks of the ICA.

Following the negotiations, the parties expressed their readiness to consider the possibility of creating joint working groups, holding expert meetings, and participating in regional forums, exhibitions, and electronic trading platforms.

The International Cooperative Alliance (ICA) is a global federation uniting more than 310 member organizations from 110 countries worldwide. Founded in 1895, the ICA is one of the oldest and largest non-governmental sector associations and a UN partner that actively promotes the cooperative model of sustainable development.

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