International Chamber of Commerce

International Chamber of Commerce (ICC) was established in 1919 with the aim of facilitating the world of business by promoting capital free flow, investment and trade and open market for services and goods. The first president of ICC was Etienne Clementel. This organization has its presence in about 130 countries worldwide, though in the beginning, it acted as the representative of the private sectors in USA, Britain, Italy, France and Belgium.

International Chamber of Commerce works for the cause of globalization and also looks to facilitate global trade. It lobbies for worldwide economic growth, prosperity and job creation. The association also shapes global mindset on matters of business. The national committees of International Chamber of Commerce work as the link between the ICC and the national governments of various countries.

International Chamber of Commerce World Council is made up of business executives. It is a general assembly of important intergovernmental organizations. The delegates of this council are nominated by the national committees. There are 10 direct members in the Council and the Council meets two times a year. The Chairman and Vice Chairman of the World Council are elected for a term of two years. The Executive Board of the World Council is elected on the recommendations of the Chairman.

The International Secretariat of International Chamber of Commerce is headed by the Secretary General. The work programs of the ICC are implemented by the Secretary General in association with the national committees. The ICC policies are implemented by the fifteen to thirty member Executive Board of the ICC. The ICC is represented in the countries by the National Committees of the ICC. The Finance Committee of ICC provides advice on financial matters to the Executive Board. It also keeps a close watch on the revenue flows of the ICC and looks into the financial outcome of the activities of the ICC.

Dispute resolution services are provided by the International Court of Arbitration of ICC. The International Court of Arbitration was created in 1923 and it provides its services in areas like marketing, anti-corruption, banking and environment management. There are 85 member countries of this organization. With the aim of stopping harmful and illegal activities, ICC has also launched a BASCAP initiative.

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