Cooperatives have been playing significant role in enhancing fair sharing of benefits of citizens and the participation of the main development driving people in the country’s economy

The remark was made by President Mulatu Teshome at the opening of the Fifth National Cooperatives Exhibition and Bazaar today.

Opening the exhibition, President Mulatu said modernizing agriculture, developing agro-marketing and enhancing market-oriented agricultural products are also among the contributions of cooperatives.

Agriculture and Natural Resources Minister, Eyasu Abrha said cooperatives have been playing active role in building the capacity of farmers in negotiating market price and mobilizing resources from the public to the national economy.

He added that they help the country to stabilize the market through expanding fair and competitive marketing networks.

Federal Cooperatives Agency Director-General, Usman Surur said Ethiopia has succeeded in building strong and effective cooperatives.

According to him, there are over 82,000 cooperatives, 381 unions and 3 cooperative federations with over 20.1 billion birr capital.

The cooperatives have achieved multifaceted results in productivity, stabilizing market, increasing exports and value addition, Usman added.

Over 280 cooperatives, 100 stakeholders, and 40 agricultural input suppliers are participating in the six-day exhibition and bazaar.