UAE Ministry of Economy and International Cooperative Alliance Discuss Strategies for Enhancing Cooperative Sector

The UAE Ministry of Economy, represented by H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry, held a strategic meeting with Jeroen Douglas, Director General of the International Cooperative Alliance (ICA), to explore new avenues for collaboration and the exchange of best practices aimed at strengthening the country’s cooperative sector.

During the meeting, H.E. Al Saleh emphasized the UAE’s commitment to developing a robust and forward-looking legislative framework for cooperatives, aligned with global best practices. This effort has been marked by the issuance of Federal Law by Decree No. 6 of 2022 and Executive Regulation No. 55 of 2024, which have allowed the establishment of cooperatives in sectors previously untapped, with participation from all social segments. These legislative advancements support the national objective of increasing the cooperative sector's contribution to the UAE’s GDP to five per cent and expanding membership to 500,000.

The UAE’s cooperative sector reported revenues of AED 7.81 billion in 2023, marking a five per cent year-over-year growth from AED 7.45 billion in 2022. This achievement reflects the country’s ongoing efforts to enhance its regulatory and legislative framework, allowing cooperative associations to expand into sectors such as education, healthcare, and technology, and even participate in the UAE’s financial markets.

H.E. Al Saleh underscored the importance of joint efforts with ICA to adopt successful international models, initiate programs that foster sector integration, and support the UAE’s leadership in this field. The meeting aligns with ICA’s efforts to broaden its activities in the Middle East, particularly in light of the United Nations’ declaration of 2025 as the Year of Cooperatives.

Founded in 1895, ICA is one of the world’s oldest non-governmental organizations, representing nearly one billion members across 105 countries and over 300 cooperative associations. ICA works globally to ensure the sustainability of the cooperative sector, which plays a pivotal role in the growth of national economies.