It is a vocational Organization ,have benefit of artificial character and financially  and administrative independent and does not aim profits. It is non-governmental organization, the private and public sector share in . It is founded in ( 2004) by what was stated of thoughts of industrial businessmen, merchants, and investors who concern with purchasing of raw materials and to export the local products.

It works to develop, rehabilitate  and advance the private sector and financing , regulating the importing and supporting the exported materials , to raise and regulate the industry whether the small, medium and the big one, and to work to facilitate the task of all the investors and to utilize of the law (12) for (2006) to serve the state and the local and to export the surplus of them through the work of the investing projects execution, developing the small projects , developing and widening the large projects, developing the markets and unemployment absorption.

The union also works to hold the qualifying courses, visiting the international exhibitions, participation in the economical conferences in order to protect the importer and the exporter from the markets problems …

It works also to get loans to facilitate the small and medium industries , also to prepare the economical use for the strategic projects which makes the investors ready and serves Iraq. Some of the union goals are : to issue a weekly newspaper, presses and brochure share to develop the Iraqi businessmen and convoying the modern electronic in the world.