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22 June 2024

Emirates Co-ops bring in Dh3.2bn

By Staff Writer


The Co-operative societies across the UAE are hosting

a three-week awareness festival under the slogan “protecting consumers”.

The country-wide festival is organised by the Consumer Co-operative Union (CCU) at the Hatta branch of Emirates Co-op society, and the event will be observed at all branches of the various co-op societies across the country until March 20.

Citing figures from the official financial statements, Deputy Chairman of the CCU Majid Rahma Al Shamisi, said the combined sales turnover of all the co-op societies across UAE stood at an impressive Dh3.2 billion, representing a 19 per cent growth over the preceding year.

The CCU operates through various co-op societies in the country such as the Abu Dhabi Co-operative Society, Union Co-operative Society, Al Ain Co-operative Society, Sharjah Co-operative Society, Emirates Co-operative Society, Dubai Co-operative Society, Delma Co-operative Society, Dohms Co-operative Society, RAK Co-operative Society, UAQ Co-operative Society, Ajman Co-operative Society, Dhaffra Co-operative Society, Khalidiaya Co-operative Society, Khorfakkan Co-operative Society and Baniyas Co-operative Society, covering almost all parts of the UAE.

Al Shamisi said during the current year 15 more branches of the co-op societies will be opened in various parts of the country, bringing the total number of branches to 91 by the end of the year.

He added that although the percentage of the population catered by the co-op societies is relatively very small, the co-op movement has contributed enormously to the stability of the consumer market, and also played a role in the overall economic development of the country.

Al Shamisi said the aim of the festival is to protect the interests of the consumers and to promote their trust on the co-op societies.

CCU today markets 160 products, which carry the co-op trademark and are sold substantially cheaper compared to other similar products in the market.

During the festival these products will be offered at an additional 15 per cent to 40 per cent reduced prices.

“The co-op movement is trying to fight price rises for consumer products in the country and to protect market stability making the consumer goods affordable to nationals and expatriates alike,” said Al Shamisi.