Tashkent, Uzbekistan (UzDaily.com) — During a plenary session of the Legislative Chamber of the Oliy Majlis of Uzbekistan, the draft law "On Agricultural Cooperatives" was reviewed in its second reading.

The draft law regulates various aspects related to the establishment and operation of agricultural cooperatives, including membership issues, oversight, external auditing, management, as well as procedures for reorganization and liquidation of cooperatives. Special attention is given to regulating property relations between cooperatives and the state.

The law also includes provisions aimed at supporting small producers, coordinating their activities, and creating favorable conditions with government support. An important element of the project is the encouragement of cooperative financing.

According to the draft, an agricultural cooperative is a commercial organization that operates on democratic principles. It allows both individuals and legal entities to join as shareholders to engage in agricultural activities to meet their material and other needs.