Formation of Cooperatives Falls

More than 200 new cooperatives were registered during the Iranian month ending Dec. 21, which shows a 48% decline compared with the corresponding period of last year.
These newly-founded cooperatives had 3,119 members and created jobs for 2,474 people to register a 50% and 67% decline respectively year-on-year, the Ministry of Cooperatives, Labor and Social Welfare's latest report shows.
A cooperative is a jointly owned enterprise engaged in the production or distribution of goods or supply of services, operated by its members for their mutual benefit, typically organized by consumers or farmers.