Out of keenness on the principle of participation and transparency, the Ministry of Commerce and the General Authority of Foreign Trade called on those interested and the public to express their opinions and suggestions regarding the proposal to develop regulations for the foreign Saudi Business Councils via e-mail (survey@gaft.gov.sa) by 5 Dhu al-Qa'dah 1441, corresponding to 26 June 2020. The Ministry and the Authority pointed out that the draft regulation aims a mechanism for the work of the foreign Saudi Business Councils, promote their ability to overcome any obstacles, and enable them to conclude successful trade partnerships, in such a way as to increase the private sector's contribution to foreign trade and realizing the goals of Vision 2030. The prominent features of the draft regulations include enabling the establishment of regional business councils; classifying councils and setting criteria for each classification; setting performance indicators and mechanisms for reporting and executive plans to develop trade and investment exchange with other countries; determining the financial compensation for membership and diversifying resources; promote Councils' engagement in governmental events, and promoting the private sector's engagement in decisionmaking and reflecting input in trade agreements and policies. The Ministry of Commerce and the General Authority of Foreign Trade call on those interested and the public to participate and express their opinion on the said draft regulations using the dedicated form. The draft and form can be accessed on the following link:
https://mc.gov.sa/DRSFBC.