Today's Edition
ABU DHABI (ALETIHAD)
The UAE Government has issued a Federal Decree-Law amending some provisions of Federal Law No. (22) of 2000 on the UAE Union of Chambers of Commerce and Industry.
The legislative amendment aims to modernise the legal framework governing the Federation, reinforce its role in supporting commercial and industrial sectors, and enhance its contribution to the national economy in line with the UAE’s strategic directions.
The Federal Decree-Law includes amending the old official name of the Union to become the “Emirates Union of Chambers of Commerce and Industry”, reaffirming its comprehensive federal mandate and unifying its institutional identity in alignment with future requirements and the UAE’s standing within regional and global economic ecosystems.
To enhance institutional efficiency, the new Federal Decree-Law abolished the General Assembly in the organisational structure of the Union and expands the competencies of the Board of Directors, which now serves as the supreme authority, within the Union of Chambers, responsible for shaping general policies, approving strategic and operational plans, endorsing budgets and organisational regulations, and proposing accession to relevant international agreements and treaties.
The Federal Decree-Law also grants the Board of Directors the power to establish branches or offices of the Union of Chambers within or outside the UAE in support of the Union’s objectives, strengthening its presence and representation in commercial and industrial sectors at both the national and international levels.
In support of enhanced governance and clear leadership responsibilities, the Decree-Law introduces a new article defining the powers of the Chairman of the Board of Directors of the Emirates Union of Chambers of Commerce and Industry.
These powers include proposing policies and strategic plans, overseeing the implementation of the Union’s activities, approving administrative and financial structures and regulations, and issuing the necessary decisions to ensure effective institutional performance.
This legislative amendment reinforces the UAE’s commitment to advancing its economic legislative framework, fostering a dynamic and competitive business environment, and strengthening the country’s position as a leading regional hub for trade and industry, capable of adapting to global economic developments and driving sustainable economic growth.
