Fedecámaras is composed of chambers of commerce (cámara in Spanish) in fourteen basic trade groups: banking, agriculture, commerce, construction, energy, manufacturing, media, mining, ranching, insurance, transportation, tourism, real estate and telecommunications.
In practice, the intended function of Fedecámaras is to act as a cartel controlling these sectors of the Venezuelan economy, setting wages and working conditions within each respective trade.
This organization was at political odds with former Venezuelan President Hugo Chávez.
Founded in 1944, Fedecámaras was formed with the main objective of protecting the free enterprise, by promoting the development and diversification of the country within a regulatory system that guarantees the rights of all individuals, and by defending its members and affiliates.
The current leadership for the 2021-2023 period is the following: Carlos Fernández Gallardo is the president; Adán Celis Michelena is the first vice-president, Felipe Capozzolo is the second vice-president, and César Augusto Guillén Lamus is the treasurer.