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A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise

Co-operatives a re based on the values of self help, self responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty , openness , social responsibility and caring for others.

The co-operative principles are guidelines by which co-operatives put their values into practice

1st Principle : Voluntary and Open Membership

Co-operatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership without gender, social, racial, political or religious discrimination.

2nd Principle : Democratic Member Control

Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organized in a democratic manner.

3rd Principle : Membership Economic Participation

Members contribute equitably and democratically control the capital of their co-operatives. At least part of that capital usually the common property of the co-operatives. Members usually receive limited compensation, if any on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing their co-operative possibly by setting up reserves , part of which at least would be indivisible : benefiting members in proportion to their transactions with the co-operative : and supporting other activities approved by the member.

4th Principle : Autonomy and Independence

Co-operatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations including governments or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy.

5th Principle : Education, Training and Information

Co-operatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their co-operatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of co-operation.

6th Principle : Co-operation among Co-operatives

Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures.

7th Principle: Concern for community

Co-operatives work for the sustainable development of their communities through policies approved by their members.

In 1921, in Basel, Switzerland, at the International Co-operative Congress, it was resolved that

1. To define the growing Co-operative Movements, common values and ideals a special event should be organized

2. To develop an international Co-operative Symbol to celebrate the movement is growing diversity

In Ersen, Germany, 1922 it was decided that and International Co-operative Day would be celebrated and wanted to design an international Co-operative symbol and flag for the first Co-operative day.

Different ideas and designs were collected from the artists all over the world. But it was hard to decide on an image that would please every body.

Eventually, a famous French co-operator, Professor Charles Gide, suggested the Seven Colours of the Rainbow' for the flag. He pointed out that the rainbow symbolized Unity in diversity and the power of light, enlightenment and progress.

The International leaders of co-operative fraternity liked the idea and after some experiments with different designs and clothes, in 1924 International Co-operative Flag was finalized and adopted as an official symbol of the international Co-operative Movement in 1925.