The Ministry of Commerce and Industry of the Federal Government of Somalia today held an important meeting to validate the National Cooperatives Policy and Law (Validation Meeting for National Cooperatives Policy and Law). The meeting was attended by representatives from government institutions, Federal Member States, the private sector, and various cooperatives across the country.
The meeting focused on the importance of establishing a modern legal and policy framework that supports the development and strengthening of Somalia’s cooperative sector. During the session, the key provisions of the National Cooperatives Policy and Law were presented in detail, highlighting the important role cooperatives can play in boosting the national economy and promoting the development of Somali society.
Officials from the Ministry stated that the new policy and law would significantly contribute to modernizing the cooperative system, strengthening community collaboration, and creating broader economic opportunities. They also emphasized that cooperatives are essential for enhancing domestic production, supporting small and medium-sized enterprises, and promoting a community-based economy.
The Ministry reaffirmed its commitment to accelerating the remaining legal procedures and announced that the National Cooperatives Policy and Law will soon be submitted to the Council of Ministers of the Federal Government of Somalia for approval as quickly as possible.
Participants at the meeting highly praised the efforts and leadership of the Ministry of Commerce and Industry throughout this important process. They also stressed the need for a unified legal framework to regulate cooperative activities in the country in order to ensure an efficient and effective system.
Meanwhile, Somali cooperatives participating in the meeting played an active role in the discussions and recommendations related to the new policy and law. They expressed their commitment to contributing to the development of the cooperative system, from the early consultation stages through to the final approval phase.
The meeting was officially opened and closed by Maxamed Cabdullaahi Maxamed, Director of the Department of Small, Medium Enterprises and Cooperatives at the Ministry of Commerce and Industry. The Director commended all stakeholders who contributed to the preparation of the policy and law, noting that they represent an important step toward advancing cooperatives and the national economy as a whole.
The meeting is regarded as a significant milestone in building a modern cooperative system that will empower Somali communities to collectively benefit from the country’s economic and development opportunities.
