Abu dhabi: The UAE Government has issued a Federal Decree-Law that amends certain provisions of Federal Law No. (22) of 2000 concerning the UAE Union of Chambers of Commerce and Industry.
According to Emirates News Agency, the legislative change aims to modernize the legal framework governing the Federation, enhance its role in supporting the commercial and industrial sectors, and boost its contribution to the national economy in line with the UAE's strategic directions.
The Federal Decree-Law includes a change to the official name of the Union, now called the 'Emirates Union of Chambers of Commerce and Industry.' This change reaffirms its comprehensive federal mandate and unifies its institutional identity to align with future requirements and the UAE's position within regional and global economic ecosystems.
To improve institutional efficiency, the new Federal Decree-Law has abolished the General Assembly within the Union's organizational structure. It expands the competencies of the Board of Directors, which now acts as the supreme authority within the Union of Chambers. The Board is responsible for shaping general policies, approving strategic and operational plans, endorsing budgets and organizational regulations, and proposing accession to relevant international agreements and treaties.
The Decree-Law also grants the Board of Directors the authority to establish branches or offices of the Union of Chambers both within and outside the UAE. This move aims to support the Union's objectives by strengthening its presence and representation in the commercial and industrial sectors at both national and international levels.
In support of enhanced governance and clear leadership responsibilities, the Decree-Law introduces a new article that defines 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 necessary decisions to ensure effective institutional performance.
This legislative amendment underscores 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. It aims to enable the UAE to adapt to global economic developments and drive sustainable economic growth.