(a) What is a Chamber of Commerce? (b) State six functions of a Chamber of Commerce. (c) State three functions -pc manufacturing association.

Answer Details

(a) What is a Chamber of Commerce?

A Chamber of Commerce is a voluntary association of business people, traders, manufacturers and firms in a town, region or country, formed to protect, promote and advance the common commercial interests of its members and to encourage the growth of trade and industry in the area.

(b) Six functions of a Chamber of Commerce

1. It protects and promotes the common trading interests of its members.
2. It provides commercial information and advice to members on trade, markets and business opportunities.
3. It represents the views of the business community to the government and makes recommendations on trade policy, taxation and legislation.
4. It settles trade disputes among members through arbitration.
5. It organises trade fairs, exhibitions and trade missions to promote local and foreign trade.
6. It issues certificates of origin and other documents needed by members in foreign trade.

(c) Three functions of a Manufacturers Association

1. It protects and promotes the common interests of manufacturers and presents their views to the government.
2. It advises members on production, standards and technical matters and encourages the growth of local industries.
3. It negotiates with government and labour on policies, incentives and conditions affecting manufacturing.