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Indonesia & Timor Leste establish cooperation in developing cooperatives and MSMEs Featured

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The Ministry of Cooperatives and Small and Medium Enterprises is establishing bilateral cooperation with Timor Leste to strengthen micro, small and medium enterprises (MSMEs), as well as cooperatives so that they provide more benefits to the economies of both countries.

This cooperation was confirmed in the signing of a memorandum of understanding between the two countries, which was held in Jakarta, Tuesday (20/2).

Minister of Cooperatives and Small and Medium Enterprises, Teten Masduki said that the scope of the collaboration included a commitment to develop capacity building, partnerships between cooperatives, feasibility studies related to developing the business potential of cooperatives and SMEs, training and exchange visits, as well as strengthening SMEs and cooperative programs through regional collaboration.

Minister Teten Masduki further remarked that this collaboration will open up broad opportunities for cooperatives and MSMEs in both countries to learn from each other, and exchange information. He added that in the future, the Governments of Indonesia and Timor Leste can jointly evaluate certain sectors that may be developed by cooperatives and MSMEs so that they can strengthen the existing cooperation.

He also hopes that this memorandum of understanding can be implemented well, and all parties can make good use of this opportunity, and if successful, it can be continued for the next memorandum of understanding period.

Meanwhile, Secretary of State for Cooperatives of the Democratic Republic of Timor-Leste, Arsénio Pereira da Silva, said that the signing of the memorandum of understanding was a follow-up to the previous meeting between Indonesia and Timor Leste at the 2023 ASEAN Inclusive Business Summit.

Da Silva hopes that through this collaboration, his side can learn to develop MSMEs and cooperatives so that they are stronger and can grow together in the ASEAN region.

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