JEDDAH, 24 December 2003 — The Arab World Chamber of Commerce (AWCC) is negotiating to set up world headquarters in the Saudi Arabia, according to a statement obtained by Arab News.
Negotiations are taking place with a high-profile Saudi sponsor team to set up the world headquarters in Riyadh by as early as Feb. 1, 2004.
“The significant characteristics of the Chamber will be to concentrate efforts on developing the private sector, international trade facilitation and encouraging foreign direct investment into the region,” said Michael Muhammad Abdullah Brittingham, the AWCC chairman.
“The various Arab and joint-chambers used to function individually and independently, but under a new system of common-interest-cooperation within the Arab World Chamber of Commerce, they will work together as one pan-Arab union or federation. We’ve deliberately chosen Riyadh to be the focal point of this activity,” he added.
The AWCC is an organization of business leaders and entrepreneurs whose major goals are to encourage manufacturing-related joint ventures in the Arab world between US, Saudi and Arab world companies, create awareness of the opportunities in the Arab world for smaller and medium-sized US firms and increase knowledge and understanding of the business and cultural environments of Arab countries.