Azerbaijan, Baku, April 15 / Trend M.Aliyev /
Azerbaijani Parliament has today adopted a bill on 'Agricultural cooperatives' at the first reading.
Parliamentary Agricultural Policy Committee Chairman
Eldar Ibrahimov presented the bill.
He stressed that it determines the order of formation and organization of agricultural cooperatives, legal, institutional and economic framework for the establishment of agricultural cooperatives.
Ali Masimli said the document's adoption will contribute to a new stage of the agrarian reforms in Azerbaijan. "The cooperative system in agriculture will help increase revenue, make bigger profits at low cost and increase efficiency of agricultural workers' activity," Masimli said.
He said considering the European countries' practice, one can observe the need to create banks for the financing of agricultural cooperatives.
Fazail Agamali stressed that agricultural development requires new approaches, and this law will provide that. After the adoption of the bill, it is necessary to submit it to the public debate in rural areas, he added.