Commerce, coop union join on prices

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KUWAIT CITY, Aug 31: The Ministry of Commerce and Industry and the Union of Consumer Cooperative Societies signed a memorandum of understanding and cooperation for monitoring and controlling prices of products and services in cooperative stores and similar markets. The MoU was inked in presence of the Minister of Social Affairs, Sheikh Firas Saud Al-Malik Al-Sabah and Minister of Trade and Industry Mohammed Al-Aiban, on Wednesday.

A joint press statement said the signing of the memorandum came to achieve cooperation between the ministry and the union. Both parties will develop and support joint frameworks of understanding FOR monitoring and controlling the prices of products and services through joint coordination and cooperation. The MoU, effective as of date of signing until 12 months, can be renewed according to a new agreement between the two parties. The spectrum of data cooperation is represented by product name, brand, size, weight, country of origin, product price and product barcode.

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