The Federation of Chambers of GCC was an idea initiated by the increasing needs of strengthening GCC chamber bonds and relation as well as consolidating steps enhancing economic cooperation among countries sharing common values and destiny. The preparatory meetings in October 1976, attended by the federations and chambers of the Gulf Arab States paved the way for establishing the initial form of the Federation. In October 1979, the Federation of GCC Chambers (FGCCC) was officially launched as none—profit organization and the city of Dammam in the Kingdom of Saudi Arabia, was nominated as the host city.
Strengthen and accelerate the pace of economic integration between the GCC countries to attain economic unity.
To provide the proper environment for the development of the Gulf private sector performance and strengthening its competitiveness, to be the locomotive of development in the GCC countries’ economies and the driving tool towards their integration and unity.
- Activate the role of the private sector in the process of economic integration among the GCC countries to reach their full economic unity.
- Coordinate between the chambers of commerce and industry and their associations in the GCC countries and support them as representatives of the private sector in their countries.
- Represent the private sector before Gulf official authorities.
- Strengthen the federation’s role in the formulation of policies and economic trends leading to the creation of consensus between these policies and trends and the actual requirements of the private sector in the light of the current and future global economic developments.
- Deepen the degree of integration of the Gulf private sector in the global economy and contribute to increased GDP, and represent the private sector at the Arab, regional and international levels.
- Support the role of chambers in strengthening the role of the Gulf private sector in assuming social responsibility.
1 . Enhance the contribution of the private sector in the GCC regulatory frameworks relating to decisions and legislation to economic affairs of the Gulf (GCC), through the preparation of studies and memos and continue to represent the private sector at the Gulf ministerial and technical committees of the Gulf Cooperation Council.
2 . Direct coordination with the Secretariat of the GCC through the formation of specialized committees and jointly organizing joint events and functions with the aim of involving the Gulf private sector on all issues of the GCC joint economic action .
3 . Strengthening the role of the private sector in the GCC countries in order to establish full economic citizenship by coordinating and unifying all economic policies among the GCC countries .
4 . Contribute to cooperation with the Council in negotiations with regional and international economic blocs and groups.
5 . Monitor and follow up the problems and difficulties faced by the private sector in the GCC countries and to contribute to overcoming it.
6 . Encourage the establishment of joint economic projects, in the Gulf , as well as to invite foreign investors to invest in the GCC countries .
7 . Participate in the economic conferences and seminars.
8 . Dissemination and promotion of investment opportunities between the GCC member states.
9 . Provide data and information on the Gulf private sector.
10 . The formation of sectorial committees and provide all the services that lead to the success of their work.
11 . Preparation and dissemination of studies and research or other publications that serve the economy in the Gulf.
12 . Cooperation and coordination with GCC countries agencies, regional and international organizations related to anything that might contribute to the deepening of Foreign Economic Relations of the private sector of the Gulf.