Based on the principle of participation and transparency, the Ministry of Commerce and the General Authority for Foreign Trade call on those interested and the public to express their opinions and suggestions regarding the Proposal of Developing the Regulations of the Saudi Foreign Business Councils through the following e-mail (survey@gaft.gov.sa), deadline 05.11.1441 AH, corresponding to 26.06.2020 AD. Meanwhile, MC & GAFT have clarified that the draft regulation aims to develop the work mechanism of the Saudi Foreign Business Councils, besides enhancing their effectiveness to overcome any encountered obstacles, also to enable them to conclude successful commercial partnerships, so that to raise the private sector's contribution to foreign trade, as well as to realize the goals of the Kingdom’s Vision 2030.
Among the most prominent features of the draft regulations are enabling the establishment of Regional Business Councils, also classifying the Councils, as well as setting criteria for forming such Councils, besides creating performance indicators, report mechanism and executive plans for them. This is for developing the trade and investment exchange with other countries, determining the financial compensation for their membership and diversifying their resources, in addition to enhancing their integration with government activities, promoting the private sector participation in decision-making and reflecting the views and opinions on the relevant Trade Policies and Agreements.
The Ministry of Commerce and the General Authority for Foreign Trade call on those interested and the public to participate and express their opinions on the said draft regulations using the form designated for that purpose ,
click here.