1. To participate in setting and carrying out commercial policies in a way that achieves the efficiency and effectiveness for the sector and leads to diversification of the production base and boosts constructive competition among its institutions; and reinforce the role of the private sector and its contribution to the national economy.
2. To suggest issuing commercial systems and regulations, review the systems and regulations applied. To supervise applying all the commercial systems.
3. To regulate means of supervising the development of domestic trade markets and protecting them against exploitation and monopoly and to control prices. To review ways of commercial practices and develop methods and procedures in line with the public interest.
4. To issue licenses necessary for setting up the commercial chambers and their branches; and to follow up the activities of all the chambers and their budget and supervise the elections of their boards. To approve their organization of exhibitions and markets and their participation in the conferences related to their activity. To organize and receive commercial delegates and set up training centers.
5. To supervise the Kingdom's admission to the World Trade Organization (WTO) and the work of the National Committee for Commerce and Finance and the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), and the chairmanship of the Saudi side in a number of joint committees for economic, commercial, and technical cooperation.
6. To boost up procedures which help develop the non-oil exports, improve the trade balance with all the world's countries, and provide access to new markets for national products and participate in preparing the economic and commercial agreements with the other countries and prepare and review the lists of the exchanged commodities in cooperation with the concerned bodies.
7. To participate in the work and meetings of the international and regional institutions and organizations, the joint commercial and economic committees, the meetings held within the framework of the Gulf Cooperation Council in implementation of the economic cooperation agreement, as well as the commercial and economic meetings prepared within the framework of the Islamic conference and Arab League. To make the necessary arrangements in order to receive the official commercial and economic delegates visiting the Kingdom, and provide the necessary information for the Ministry's delegates when visiting the foreign countries.
8. To study the requests presented by the government bodies, national and foreign organizations to organize temporary exhibitions in the Kingdom and abroad. To issue the necessary licenses for that according to the Royal Decree informed through Prime Minister’s letter No. 16556 on 19/1/1961. To evaluate the invitations presented by Arab and foreign countries in order to participate in international exhibitions and supervise participation in them in cooperation with the concerned bodies .
9. To provide services for businessmen and the specialized government bodies, and provide them with the data, statistics, information, and reports issued by external bodies with regard to all what serves the Kingdom in terms of economic, commercial, financial ; and to study and analyze the information and how effective it is on the Saudi economy.
10. To estimate the Kingdom's needs of commodities and materials, prepare the necessary plans to provide them at ordinary times and otherwise for all the Kingdom's regions, from the best sources and with least prices; and to monitor their stock and follow up the letter of credits and the actual stock of commodities and materials.
11. To follow up supply and demand of commodities and materials in global markets, take the necessary measures to secure the demands of the local markets, and monitor them and determine the best sources to provide them in cooperation and coordination with businessmen and commercial and industrial chambers.
12. To study the requests of establishing companies and branches for them, auditing their contracts, and completing the procedures of establishment and amendment; and to encourage the establishment of more joint-stock companies which have economic potential, also the national companies and hi-tech-oriented companies, along with encouraging the merging of companies and the individual bodies into large entities. This is in order to provide the capital required and complete the establishment, specialization, registration procedures, monitor their work, scrutinize the budgets of the joint stock companies.
13. To study the requests of company registration and individual bodies, and their branches in all the economic activity sections and issue registration, amendment, renewal, and deletion certificates, and have them monitored; and to detect irregularities and carry out the provisions of the Commercial Registry System.
14. To study requests of the foreign companies, and launch scientific and technical offices for them in the Kingdom, as well as the requests sent to the Ministry of Commerce with regard to launching representative offices and completing statutory procedures for them.
15. To study requests and contracts of the commercial agencies and complete the registration procedures for all kinds of agencies, and all the amendments they undergo; and to issue the necessary registration certificates, monitor the work of commercial agencies, detect irregularities.
16. To study requests of the professional company establishment and have their contracts examined and registered; and to follow up on their data updates in terms of amendments, and to supervise the work of their classification and carry out the vocational companies provisions.
17. To study the license requests of gold shops and forges and have them registered; and to monitor the gold artifacts hallmark and have them examined and analyzed; and to issue licenses for those working at the precious metals forges and gems.
18. To combat the commercial fraud with all its forms and detect irregularities by detection bodies all over the Kingdom's cities and have them verified; and to issue the adjudication decisions of all fraud cases through the committees set up for that, in cooperation with concerned bodies.
19. To participate in combating cover-up and detect its cases, and investigate them; and to issue the adjudication decisions of cover-up cases through the committees set up for that
20. To register, tabulate, classify, and disseminate the information of commodity trading and services; and provide them to the concerned bodies; and issue reports on that, and to issue fliers and posters related to commercial dealing and consumer's awareness means; and to familiarize with standards and material and commodity formulation.
MINISTRY'S OBJECTIVES
- Increase and bolster users’ trust
- Improve and upgrade the business environment
- Ensure a sustainable strategic inventory of essential commodities
- Improve optimization of resources by the Ministry
- Upgrade the quality of the Ministry’s services provided to users in line with institutional excellence benchmarks
- Upgrade the retail sector and promote good business practices
- Enable and encourage an e-commerce environment Kingdom-wide
- Enable the highest digital maturity and preparedness levels within the Ministry
- Create an internal environment conducive to stimulation and creativity