Saint Lucia: Minister for Commerce speaks on the importance of cooperatives on Intl Cooperatives Day

Saint Lucia: The Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs addressed the nation in recognition of International Cooperatives Day on Saturday, July 2.

During her statement, the minister referenced the importance of cooperatives within society and the abundance of work done by the organizations even when met by the many challenges they face. The minister went on to state that the Government of Saint Lucia is working on legislation to aid cooperatives in overcoming challenges.

“The Cooperative Societies Act and the Cooperative Societies Regulations have been under review since 2008. My government commits to finalizing these two pieces of legislation within this financial year. Modern business practices demand that cooperatives must be prepared to face global challenges. As such, the finalization of the legislation is a priority for the government,” she said.

The minister also commented on the many attributes cooperatives have made to society. She stated, “As we celebrate International Cooperatives Day 2022, we can proudly say that our cooperatives have provided the much-needed landscape to change our lives. The difference between the cooperative principles, the democratic structure, the service to members, the cooperation among cooperatives, the concern for community and the social goals that cooperatives embody are worth mentioning and recognizing today. As we join fellow cooperatives in over 180 countries and celebrate the 100th Anniversary of International Cooperatives Day, I wish to thank every member, employee, and volunteer for your invaluable contribution to this important movement.”

International Cooperatives Day is an annual celebration of the cooperative movement observed on the first Saturday of July month, since 1923, by the International Cooperative Alliance.