Establishment Of Small Consumer Cooperatives Can Be Possible In Arme

ESTABLISHMENT OF SMALL CONSUMER COOPERATIVES CAN BE POSSIBLE IN ARMENIA

/ARKA/
October 24, 2011
YEREVAN

YEREVAN, October 24. /ARKA/. National Assembly of Armenia adopted on
Monday amendments in the law “On consumer cooperatives” in the first
reading envisaging elimination of quantitative restrictions in the
establishment of cooperatives.

“Recently in Armenia the policy of promotion of cooperation in
agriculture has been activated. The existing legislation, particularly
the regulation stating that consumer cooperative should be established
if it consists of not less than 30 people, hinders its establishment”,
said Armenian Agriculture Minister Sergo Karapetyan introducing the
draft law.

According to the amendments, it is envisaged to eliminate any
quantitative restrictions in the establishment of cooperatives which
will simplify their establishment and registration. It is especially
important in small communities.

With the formation of consumer cooperatives material-technical and
production-technical possibilities of its members will improve and
the availability of crediting – increase”, said Karapetyan.

Adoption of the law will promote the development of cooperative
movement, growth of productivity in agriculture, as well as increase
of the income of the manufacturers, as cooperation is one of the most
effective methods of farming and gives opportunity to its members to
increase its competitive advantages.

The fraction “Zharangutyun” (Heritage) spoke against the adoption of
the draft law, whose members plan to propose a number of changes in
the draft law in the second reading.

From: Emil Lazarian | Ararat NewsPress