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International Cooperative Day in the Philippines
Essentials of Business Law and Labor Law is a digital initiative of Alburo Law to provide legal knowledge to entrepreneurs to help improve their productivity and profitability by ensuring that businesses comply with relevant laws, rules, and regulations.
International Cooperative Day in the Philippines
The government recognizes intelligent efforts towards stimulating among the people greater interest in cooperative organizations. These organizations play a very important role in the economic life of many countries. (Proclamation No. 133, s. 1949)
Proclamation 133, s. 1949 was issued to strengthen the ties that unite members of cooperatives in different countries as a manifestation of the high degree of organization that characterizes cooperative movement.
The law says:
“NOW, THEREFORE, I, Elpidio Quirino, President of the Philippines, do hereby designate the first Saturday of July of each year as International Cooperative Day in the Philippines.”
In 1990, Republic Act No. 6938 or the Cooperative Code of the Philippines was enacted to foster the creation and growth of cooperatives as a practical vehicle for prompting self-reliance and harnessing people power towards the attainment of economic development and social justice. (Article 2, R.A. No. 6938)
The Cooperative Code of the Philippines was amended by Republic Act No. 9520, or the Philippine Cooperative Code of 2008..