Angkasa, the national body for Malaysia’s co-op sector, has signed a memorandum of understanding (MoU) with the Indian Farmers Fertiliser Co-operative Limited (IFFCO).
The MoU is aimed at opening more business opportunities to the co-operative movements in Malaysia and India in the agriculture, agro-based and plantation industries.
Through the MoU, co-operatives involved in the plantation, agriculture and agro-based industries would obtain a supply of the nano urea – which IFFCO says is an environmentally friendly, safe and nutrient-boosting fertiliser – at a reasonable price.
The collaboration would also offer Malaysian co-ops products and services in the sectors concerned to reciprocate IFFCO’s cooperation.
Entrepreneur development and co-operatives minister Tan Sri Noh Omar said the collaboration will boost government efforts to empower the agricultural sector, and help co-operatives ensure the agricultural quality and yield meet the 2021-2030 Agro-food Policy.
“Through the agreement which had been signed, Angkasa has in principle agreed to import the nano fertiliser and hold preliminary tests on its use on agricultural land which has been identified.
“This effort is a step forward especially in ensuring environmental sustainability because no chemical component is used in the manufacture of the nano fertiliser,” he said.
The minister added that role of the co-ops should be expanded from involvement in the credit and education services to other high-impact sectors such as agro-food. He said this would benefit the people and economy, and would be in keeping with the 100th year of the establishment of the co-operative movement in Malaysia.
The MoU will be in force for two years effective from 19 June and the collaboration could be extended based on discussions and agreement between both parties.