Page 47 - MOE ENGLISH PR REPORT- NOVEMBER 2024

Press Release

Ministry of Economy organises Cooperative Sector Leaders Forum

to explore means to expand the sector's activities & enhance its role
in national economy’s growth

H.E. Maria Al-Qasim highlights Ministry’s commitment to enhancing
dialogue between the UAE’s cooperative sector & leading global models in
the sector

Abu Dhabi, 11 November 2024:
The Ministry of Economy (MoEc) organised the Cooperative Sector Leaders Forum - the first-
ever event tailored for leaders in the UAE’s cooperative sector. It was aimed at promoting the
exchange of knowledge and best practices and increasing awareness on the key global
developments and trends in the sector. Additionally, the forum explored expansion strategies and
development plans for cooperative societies with an aim to enhance their contribution to the
growth of the national economy.
The forum was attended by H.E. Maria Hanif Al Qassim, Assistant
Undersecretary for Policies and Economic Studies at the Ministry of Economy. Participants
included representatives of various local economic departments and municipalities from all
emirates in the country. Officials from relevant federal and local government organisations, top
level representatives from all cooperatives, and members of boards, committees, and executive
teams from the sector across all the emirates were also present.

H.E. Maria Al Qasim highlighted the UAE’s commitment to creating a comprehensive legislative
and regulatory environment for the cooperative sector. MoEc is actively working to develop this
important sector in the country and strengthen its ties with leading global models in the field. These
efforts aim to promote its growth and sustainability and enhance the diversity and competitiveness
of the national economy. Additionally, they align with the UAE's transition to a new economic
model that emphasises flexibility and innovation, in line with the goals outlined in the ‘We the
UAE 2031’ vision.

H.E. highlighted that the Ministry, in collaboration with the UAE’s relevant organisations, has
made significant strides in enhancing the governance of the cooperative sector. These efforts aim
to expand its activities in accordance with best practices, recognising the sector’s vital role in
driving the national economy’s growth. A key achievement in this regard was the promulgation of
Federal Decree-Law No. 6 of 2022 on Cooperative Associations, accompanied by its Executive
Regulation No. 55 of 2024. These legal frameworks have set the foundation for the establishment