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Khalifa issues decree to restructure AD Chamber

ABU DHABI — The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, has issued a law on restructuring of the Abu Dhabi Chamber of Commerce and Industry, or ADCCI. The law number 27 for 2005 states that the ADCCI shall be a non-profit and independent entity based in Abu Dhabi.

According to the law, the chamber’s main objectives include cooperation with government and other entities in developing and regulating Abu Dhabi’s commercial and industrial affairs by representing the private sector, proposing commercially viable ventures and establishing strong bonds of cooperation with the other chambers in the country while seeking to establish an umbrella body that regulates the chambers activities.

The ADCCI shall be run by 21-member board of directors. Six of the board members, including 2 women, shall be appointed by means of an emiri decree while the remaining 15 members shall be selected by means of free polling. The board members shall serve for four years.

The law stipulates that all nationals and non-nationals engaged in commercial, industrial, professional and vocational businesses, be it companies or corporate entities based in Abu Dhabi, shall become members of the ADCCI.

Membership certificate shall be considered necessary for issuance or renewal of trade licence in the emirate.

The new law shall cancel the law number 7 for 1998 pertaining to the ADCCI and any other provision that may run contradictory to the provisions of this law.

The law shall go into effect from the date of its issuance and is to be published in the official gazette.