Iran and regional states have been traditional business partners for a long time. Iranians were among the first groups to set up businesses in UAE. The oil boom followed by development of trade infrastructures created further opportunities for bilateral business between the two countries. The evolution of trade and business environment in UAE motivated a number of Iranian businessmen to form a common platform for international trade relationship by organizing IBC. The Iranian Business Council-Dubai (IBC) was established in 1992 as a non-government, non-political and non-profit organization, licenses by Dubai Chamber of Commerce & Industry, with the objective of bringing together the leaders of UAE based Iranian companies and facilitating their regional & international trade.