Strengthening the legal framework of cooperatives as a factor of socio-economic development

Adiba Safarova

Cooperatives play an important role in the socio-economic
development of the country. In recent years, our country has adopted about 10 normative legal acts for the development of cooperation. They are mainly focused on
the cultivation and processing of raw cotton, fruit and vegetables, the development of industrial cooperation, and the expansion of cooperation between businesses and the
population. However, the role of cooperation in the economy of our country can be evaluated negatively compared with foreign countries. This is due to the fact that our national legislation regulating the activities of cooperatives is not suitable the requirements of international standards, government intervention in this area is preserved, and there are no mechanisms to encourage membership in cooperatives and so onThe article analyzes the factors influencing the development of cooperatives and makes recommendations for legislation based on existing practices and the experience of foreign countries.

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