"Our corporative sector is much more important than any of us understand. Sri Lanka's agricultural economic base of the past helped the movement to take off," said Minister Bathiudeen addressing his top officials on Wednesday (June 22) at the Ministry,

Minister Bathiudeen was discussing the launch of first national Cooperatives Week on 23 June and commemoration of International Cooperatives Day on 02 July, with his officials at the Ministry.

The first ever National Cooperatives Week will take off today at BMICH, Colombo with the Provincial Corporative Ministers joining to map the future of this crucial sector.

"Even in today's market economy, its presence in the rural sector is strong. More than 50% of non-multi-purpose cooperative purchases in Sri Lanka are purchases from farmer and livestock sectors, at Rs.3,100 million! These are the reasons why I presented a Cabinet Paper on 14 June to celebrate the International Cooperative Day falling next July 02," the Minister said.

The Cooperative movement of Sri Lanka was born in 1904 in a virtually unknown Central Province village called Menikhinna with "Menikhinna Credit Society".

The International Day of the Cooperative movement is being commemorated by the United Nations since 1975 on First Saturday of July.

The International Co-operative Day falls on 02nd July this year and the proposal made by Minister Bathiudeen to declare a Co-operative Week from 25th June 2016 to 01st July and to commemorate the Cooperative Day on 02 July at the Nelum Pokuna Theatre, Colombo with co-operators, was approved by the Cabinet of Ministers on 14 June.