The decision to establish the General Union of Chambers of Commerce, Industry & Agriculture of the Arab Countries was taken during the first conference held at Alexandria Chamber on May 8, 1951; whereas the Statute of the Union was delivered during the second conference held in Beirut on December 16, 1951 when the announcement of the foundation of the Union took place and which since then has been taking Beirut as the residence of its General Secretariat.
The Union is an independent non-governmental, non-profit regional legal entity, where its name was modified to be “Union of Arab Chambers” (UAC) at the 120th Session of the Union’s Council happened in Muscat, Sultanate of Oman on March 26, 2016.
The awareness of the Arab Businessmen for the importance of the regional cooperation as a tool to advance the Arab Economic Development was the main motive behind the foundation of this Union so, the Union was the first Arab Economic Institution to work at the non-governmental level in order to promote the idea of economic cooperation and integration among the Arab Countries.
The Union has played an important role in the process of promoting the trade cooperation between the Arab Countries at the levels of commerce and investment. The Union was always the first to call for the foundation of the Common Arab Market and developing the general principles that should be implemented in order to achieve Economic Unity between the Arab Countries.
The Union is considered to be the legitimate representative of the Arab private sector and its objectives are as follows:
First: Achieving Arab economic integration within a comprehensive, effective and developed framework so that it can deal and cooperate with other economic blocs on an equal basis that guarantees the interests of all parties and contributes to global prosperity.
Second: Representing all economic sectors on Arab, regional and International levels from the perspective of the Arab Businessmen where they can express their views and aspirations and it also coordinate and develop their positions towards various economic issues and policies, and support their role in developing and integrating their national economies.
Third: Enhancing the role of member chambers and their federations as representatives of business and private sector societies in their countries, and supporting their intellectual and administrative bodies and their technical and informational capacities to perform this role to the fullest extent; coordinating their opinions and positions at the regional and international economic bodies in addition to supporting specific efforts, projects and economic organizations whose activities serve the objectives of the Union.
Fourthly: Increasing efficiency and effectiveness of programs, plans and development efforts in the Arab countries and this by providing adequate employment opportunities in addition to employing the pillars of market economy based on the freedom of competition, preventing monopolistic practices and ensuring equal opportunities in order to achieve social justice and balance which contributes in the process of launching production capacities and creation capabilities, and also the optimal employment of technical developments when opening markets and attracting investments.
Fifth: Striving to establishing and developing the integrated developing partnership among the Arab countries on the one hand and fair participation of all society groups and sectors in developing efforts within each country on the other hand and this because of the positive and direct implications for peace, prosperity and stability substantiation in these countries and in the whole world.