Ukoopspilka planning to become member of Euro Coop in 2012
Kyiv, October 12 (Interfax-Ukraine) – The Ukrainian Cooperative Union (Ukoopspilka) is planning to join the European Community of Consumer Cooperatives (Euro Coop) in 2012, Ukoopspilka Board Chairman Vladyslav Honcharenko said at a press conference at Interfax-Ukraine on Tuesday.
"This is an opportunity for our companies in various segments – from retail trade to production – to obtain a unique experience from our colleagues and form immunity from such global challenges as the entry of modified foodstuffs to the market and the arrival of transnational companies," he said.
He said that the joining the Euro Coop would help to attract investment and establish partnership with other European consumer cooperatives.
Honcharenko also said that cooperation with the Euro Coop includes the reformation of the Ukoopspilka's system under a European model.
"In May 2011, we defined principles of reformation, in particular, members are to become actual holders of property and the cooperation should become an integral business structure," he added.
Ukoopspilka unites over 10,500 stores in rural areas and districts, 265 industrial companies and 423 markets (over 15%).
In 2010, commodity turnover of the Ukoopspilka's retail chain came to EUR 452 million. In 2011, Ukoopspilka says that it could expand to EUR 500 million.
Its core business is retail and wholesale, markets, restaurant business, agricultural products purchases, production of foodstuff, the hotel business, the banking business and insurance.
The Euro Coop was established in 1957. National organizations of consumer cooperatives of 17 European countries are members of the Euro Coop. Its gross commodity turnover totals over EUR 73 billion.