Chamber of Commerce

Definition:

The first Chamber of Commerce was established in 1599 in Marcelle, Italy and in Pakistan it came into being in 1984.

Chamber of commerce is an association of business that safeguards the interest of its members. It may be established voluntarily by the private sector or under the patronage of the government. London Chamber of Commerce is well-known businessman's association which is established in the private sector. It, in addition to traditional functions, offers business and commercial courses, conducts examinations, and issues certificates to the successful candidates.

The chamber of Commerce represent the grievances, problems, and issues of the business community to the government and tries to get them solved. In national and provincial budget formulation it forwards many valuable plans, schemes, and suggestion to the government.

The chamber provides its members treasured advice, important information, and effective solutions to their difficulties. Its services include provision of custom rules, market information, labor, commercial and industrial polices prepared locally or abroad.

Its members include bank, insurance companies, importers, exporters, hotels, wholesalers, retailers, etc.