Exports by Cooperatives: $2b in 10 Months

Iranian cooperatives exported $2 billion worth of goods during the 10 months to January 19, 2017, according to deputy minister of cooperatives, labor and social welfare, Seyyed Hamid Kalantari. “Exports stood at $1.7 billion for the entire Iranian year to March 2016. We are targeting $2.5 billion by the [Iranian] yearend [March 20],” Kalantari was quoted as saying by IRNA. A cooperative refers to a firm owned, controlled and operated by a group of users for their own benefit. Each member contributes equity capital and shares in the control of the firm on the basis of one-member, one-vote principle (and not in proportion to his or her equity contribution).