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The Chamber of Commerce is an association or network of business people dedicated to promoting and protecting the interests of its members to achieve their goals. It performs various functions for the welfare of a country's trade and commerce and plays an important role in the development of industries. Chambers of Commerce exists worldwide.
Protecting the interest of the Member- The most, important function of the Chamber of Commerce is to protect and maintain the member’s interest. With this view it advises the members in business related topics. It also puts that claims of the members to the Govt. and influence the Govt. in fulfilling them.
Development of trade, commerce and industry: All the functions of the chamber of commerce result in the development of trade commerce and industry of its area. It helps the business in its area, provides advice to all with a view to developing the industrial sector of the country.
Removing odd or unfair competitions- The chamber of commerce tries to eradicate any unequal or harmful competition among the member organizations and to keep the market of that product static. This ensures the existence of small factories and supports the large organizations.
Creating and Maintaining Favourable Business Environment– One of the important functions of the chamber of commerce is to create a proper and friendly business environment and to maintain it. It discusses to the Govt and undertakes different structured steps to create a business environment.
Act as a Representative- The chamber of commerce acts as a delegate or representative of its members. It places various claims to the Govt. It also acts as a representative in caw of foreign trade.
Government Advisor-The chamber of commerce advises the Govt. in case of forming the industrial law, business law, import and export regulations, budget etc. It supplies important information about the business and commerce of the country for assistance.
Developing business, education and training - To make more skilled business persons and to create new entrepreneurs, the chamber of commerce arranges various types of short-term and long-term courses and training programs. This helps in increasing the skill and introduction of new techniques.
Act as an arbitrator: The chamber of commerce acts as an arbitrator in case of any conflict on problem between the members. This develops a harmony among the members.
Except these activities chamber of commerce conducts various welfare activities like establishing libraries, school, college, training centers etc.
Based in Paris, France, the International Chamber of Commerce (ICC) is an organization comprised of more than six million members from countries around the world, tasked primarily with representing and helping to establish rules that affect and govern the interests of individuals and organizations in every part of private enterprise.
Ultimately, the International Chamber of Commerce supports its members and associates. However, in setting the groundwork for fair and profitable trade and business between nations, the ICC ends up supporting any firm that seeks out deals or trade with another country.
The ICC also works closely with a number of governmental agencies by lending expertise and establishing a presence through representatives at places such as the World Trade Organization (WTO), the United Nations (UN), and even at the G20 summits.
The International Chamber of Commerce was created shortly after World War I when real regulation or security concerning international trade and business interests was not existent. Over the years, the ICC became a foundation on which rules of ethical and profitable trade between nations could be established.
The rules the ICC laid down in its earliest years are the principles it stands on today, principles that influence almost every area of business and trade around the world.
