The Public Authority for Retail trade is one of the most important sectors in Kuwait’s economy and one of the State Gross National Product (GNP) support. Cooperative Societies since their establishment in 1962 with their subdivisions, i.e. supermarkets and branches embrace a grand network to distribute and flow the retail trade in the local market. They cover 80% of the distribution volume and will attain 90% of the foodstuff volume in addition to other necessary consumer commodities.
In comparison with the progress of the cooperative movement elsewhere in the Arab world and internationally, the Kuwaiti Cooperative Societies have achieved considerable success in a short period as the principal retailers in the Kuwaiti national economy, providing consumers with about 70 per cent of all services and commodities in the local market.
Over the past 25 years, the Kuwaiti cooperative movement has succeeded in maintaining stability in the prices of essential commodities and services, in preventing artificial increases and in winning the confidence of consumers. The goals of the cooperative movement in Kuwait are both economic and social. The economic goal is to co-ordinate individual efforts and public interests within the framework of the cooperative society, while the social goal is to protect low income groups from exploitation, to spread democratic concepts and to consolidate social links, thereby promoting social harmony and solidarity among the various sections of society. The current aims of the cooperative movement in Kuwait are to overcome obstacles to progress and to enhance the efficiency of its operations.
Mr. Ali Hashim Al Khandary - Chairman of Union of Consumer Co-operative Societies inaugurated the first edition of Kuwait International Agro Food Expo in the presence of dignitaries on 18 March 2018 at Kuwait International Fairgrounds – Kuwait