The Business Advisory Council issues opinions before the Andean Council of Foreign Ministers, the Commission or the General Secretariat, at their request or on its own initiative, with regard to programs or activities of the Andean subregional integration process that are of interest to the business sector.

Today, the Business Advisory Council is governed by Decisions 442 and 464, pursuant to the Guideline of the Andean Presidential Council ordering the attainment of "fuller participation" by this sector "in the construction of an integration process leading to the creation of a common market".

In its first meeting, held on November 30^th of 1998, the Business Advisory Council adopted its By-laws, which establish its composition, responsibilities, and the functions of its Technical Secretariat.