Business Councils Brief
Based on the Royal Decree number 5/b/10744 dated 7/6/1422 for the immediate formation of Saudi-Foreign business councils financed by businessmen from both parties to serve the interests and policies of the Kingdom and based on the Regulations of the Chambers of Commerce and Industry issued by the Royal Decree number R/6 dated 30/04/1400 and the belief of the Council of Chamber in the importance of the role played by the joint Saudi-Foreign business councils in the economic relations between the Kingdom and other countries, the Council of Saudi Chambers of Commerce started signing agreements with counterparts in some countries in order to form business councils to serve the commercial and economic relations between the Kingdom and those countries.
Definition:
A Business Councils is an economic group representing the business sector in the Kingdom and aims at boosting the relationship between the Kingdom and other nations in a number of aspects especially the commercial and investment fields. This will be achieved through a methodological framework that realizes the targeted objectives for economic relations with the other countries.
Objectives:
- Develop and enhance the relations between the business communities in the two countries and enlighten the members and subscribers from both parties about the economic opportunities available with the other party.
- Encourage exports and exchange of goods and services through continuous communications, provision of information and arrangement of exhibitions in both countries.
- Communicate with the authorities in both countries to improve cooperation between the two parties and eliminate obstacles that face each of them.
- Encourage the construction of economic projects in both countries by identifying the best finance channels and providing information to businessmen interested in such projects.
- Assist in settling commercial disputes between businessmen from the two countries in amicable methods.
- Focus on training, technology transfer and access to knowledge programs.
Membership:
The membership of the Saudi-Foreign Business Council is granted to Saudi natural and artificial persons and foreign artificial persons according to the following conditions:
- Application shall be submitted to the Business Council using the application form prepared by the Council of Chambers.
- The representative of Saudi and foreign artificial persons must be a Saudi national.
Membership Benefits:
- Priority to participate in delegations, conferences, symposiums and any other external activity for the country in whose council the person is a member.
- Access to data bases of the business councils, leaving and visiting delegations and investment opportunities in the other country.
- A business card indicating his membership in the business council.
- Inclusion of the member’s particulars in the business council booklet distributed to the embassies of both countries and the chambers federations there.
- Inclusion of information about the member and his activities in the website of the business council and giving him activated use of the site to communicate with others.
- Invitation to meeting with the Ambassadors and senior officials of the other country whether in the Kingdom or in the other country.
- Assistance in obtaining a multi-entry visa to the other country and discounted air tickets from the Saudi Arabian Airlines and foreign airlines.
8. Invitation to the annual meeting with esteemed businessmen from the other countries doing business in the Kingdom.
Session of the Business Council:
Without prejudice to the stipulations of the agreements and memos of understanding between the Council of Chambers and other similar entities and business council, the session of a business council will be three year to start from the date of its first meeting in which the Chairman and his two Deputies were elected.
Membership to these councils will be open up to the end of the council’s session.
