It includes goals to create a more favourable environment for cooperative growth, modernise legislation, boost digitalisation, introduce new cooperative models, enhance institutional and financial capacity and make cooperatives more innovative and competitive.
The President described the strategy as a "fair system that transforms individual labour into collective strength" and pledged expanded financial and institutional support for the sector.
Speaking at the launch ceremony in Istanbul, Erdogan said cooperatives have a big role in empowering disadvantaged groups, supporting local development and strengthening women, youth and small producers.
The country has 62,000 cooperatives now with over 6.5 million members, but the President noted that the country still lags behind the European Union, where more than 250,000 cooperatives represent over 165 million members, according to domestic media reports.
Turkiye launched the Cooperative Support Programme (KOPDES) in 2020, through which 826 projects by 772 cooperatives have received TL 110.5 million (~$2.67 million) in grants to date, he said.
"At the beginning of last year, we doubled the number of support categories available to cooperatives," Erdogan said.
The support amount was raised by 2.5 times this year, he stressed.
In a further boost, the President revealed the creation of a new credit mechanism within the Credit Guarantee Fund. Backed by a TL 100 million contribution from Central Union of Turkish Tradesmen and Craftsmen Credit and Guarantee Cooperatives (TESKOMB), the scheme will provide cooperatives with access to up to TL 3 billion in credit.
Additional planned initiatives include allowing cooperatives to benefit from export support schemes and increasing the share of shelf space for local cooperative products in major retail chains from 1 per cent to 2 per cent.
Other measures include lowering e-commerce commission rates through a protocol with online platforms.
ALCHEMPro News Desk (DS)
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