The Council of Saudi Chambers was established by royal decree No. 5/b/10744 dating from 06/07/1422. The council’s financing is provided by businessmen from both countries in order to service the interests and policies of the Kingdom. These councils are based on the rules of the Chamber of Commerce and Industry derived from the royal decree No. R/6 dating from 04/30/1400. The Council of Saudi Chambers stressed the importance of the coordination of such entities so as to ensure good economic relations between the Kingdom and other countries. As a result, The Council for the Saudi Chambers of Commerce began to sign agreements with their counterparts in different countries in order to facilitate economic and commercial relations between the Kingdom and these countries.
The Business Council is an economic group that represents the business community in the Kingdom. Its aim is to develop relations between the Kingdom and other nations, specifically in the fields of commerce and investment. These objectives can be achieved through a methodological framework that enables the development of economic relations with the other countries.
Membership in the foreign business councils, such as CAFS, is granted to both Saudi corporations and nationals and foreign corporations and nationals, in accordance with the conditions below:
Without prejudice to the stipulations of the agreements and explanatory notes between the Council of Saudi Chambers, other similar entities, and the Business Council, the Business Council’ mandate will be in effect for 3 years starting from the date of the first meeting at which the President and his Vice-Presidennt are elected.
Membership to these councils will be open until the end of the Council’s mandate.