The institute was established in 1984 by merging two institutes : Industry and Economics Research Institute and Management Research Institute. The purpose of the institute is to promote the cooperation of industry-academy through the scientific study of industry management relations economic, international trade and related problems. It also includes developing new approaches to the understanding of complex management economic systems, international trade system. Its major programs include training research assistants and managers, organizing conferences and colloquia, promoting policy oriented research and sponsoring the publication of its work.