NEWS - Cooperatives Active in Econo

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Subject: NEWS - Cooperatives Active in Economic Development in Myanmar

Cooperatives Active in Economic Development in Myanmar

               Xinhua
               04-JUL-99

               YANGON (July 4) XINHUA - Cooperatives in Myanmar have
               been playing an active role in the country's economic
               development. 

               According to the figures released by the Myanmar Ministry
of
               Cooperatives on Sunday, a total of 9,410 agricultural
               producers cooperatives and agricultural and general
               merchandise cooperatives have been formed in the
               agricultural sector to cultivate crops. 

               In the industrial sector, 1,506 industrial producers
               cooperatives (IPC) have been formed, producing small and
               medium machines and parts, fertilizer, farm equipment and
               engines as well as carrying out repair and lathe works to
               assist agricultural production. 

               In the financial sector, a total of 2,042 credit
cooperatives
               have also been formed in various parts of the country to
               meet the financial need of the people. 

               Meanwhile, trading cooperatives and exporting
cooperatives
               have also been established. The exporting cooperatives
               have reportedly earned 19.9 million U.S. dollars in the
fiscal
               year 1998-99 which ended in March. 

               In Myanmar, cooperatives movement started in 1904 and the
               credit cooperative society formed then was the very first
               cooperative society in the country. 

               The cooperatives contributed 2.1 percent to the gross
               domestic product annually in the past few years, making
up
               2.3 percent in volume in the trade sector.