President Ferdinand R. Marcos Jr. led the celebration of the National Cooperative Day at the Heroes Hall of Malacañang Palace on Monday, 16 October 2023, with Cooperative Development Authority (CDA) chair Usec. Joseph Encabo, Rep. Felimon M. Espares, Rep. Nicanor Briones, and BIR Commissioner Romeo D. Lumagui Jr.

In his message, the president underscored the vital link between the cooperative movement and agriculture, underscoring the importance of consolidating farmers within cooperatives.

He stressed that while individual small-scale farmers may lack influence, their collective strength in cooperatives can garner attention.

The President called for the initiation of the consolidation process for farmers' associations and cooperatives to enable larger-scale farming.

Additionally, the President pledged government support for the Cooperative Development Authority to assist the cooperative sector in its significant endeavors, while also acknowledging the challenges faced by the sector.

In a previous State of the Nation Address (SONA) delivered in July, the president had advocated for amending the Cooperative Code of 2008 to foster a more robust and dynamic cooperative sector, with a specific focus on aiding farmers and fisherfolk in increasing their production.

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