The UAE is a country made up of seven 'emirates' Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, Ras Al-Khaimah, Fujairah. It was founded on December 2, 1971.

The capital of the UAE is Abu Dhabi. This is where the seat of government is and where national decisions are made. However, each emirate has its own ruler and each emirate has a degree of autonomy and can make up their own laws.

HH Sheikh Khalifa bin Zayed Al Nahyan was elected by the Supreme Council of Rulers (Federal Supreme Council) as President of the United Arab Emirates on 3 November 2004, to succeed his father, the late HH Sheikh Zayed bin Sultan Al Nahyan, who had been UAE President from the foundation of the Federation in 1971. Sheikh Khalifa is also Ruler of Abu Dhabi.

The United Arab Emirates has been established as an independent state, possessing sovereignty. It is part of the greater Arab nation. Its aim is to maintain its independence, its sovereignty, its security and its stability, in defence against any attack on its entity or on the entity of any of its member Emirates. It also seeks to protect the freedoms and rights of its people and to achieve trustworthy co-operation between the Emirates for the common good. Among its aims, in addition to the purposes above described, is to work for the sake of the progress of the country in all fields, for the sake of providing a better life for its citizens, to give assistance and support to Arab causes and interests, and to support the charter of the United Nations and international morals.

The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Its wealth is based on oil and gas output (about 30% of GDP), and the fortunes of the economy fluctuate with the prices of those commodities. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production, oil and gas reserves should last for more than 100 years.

The government has increased spending on job creation and infrastructure expansion and is opening up its utilities to greater private sector involvement. Higher oil revenue, strong liquidity, and cheap credit in 2005 led to a surge in asset prices (shares and real estate) and consumer inflation. Any sharp correction to the UAE's equity markets could damage investor and consumer sentiment and affect bank asset quality. In April 2004, the UAE signed a Trade and Investment Framework Agreement (TIFA) with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement (FTA) with the US. <.P>

There are ample opportunities for doing business in the UAE. At the present time the economy is booming - GDP having risen by 20.4 per cent in 2000. Although a significant proportion of that increase was due to higher oil prices, government encouraged industrial diversification is also contributing to continuing economic prosperity. A signatory of the General Agreement on Tariffs and Trade, the UAE supports a liberal economy and is committed to free trade.

The UAE currency is secure and freely convertible. There are no restrictions on profit transfer or capital repatriation. Import duties are low (4 per cent) and in the case of foodstuffs, medicine, agricultural products, and items imported for use in the free zones are non-existent. Labor costs are competitive and corporate tax and personal taxes are nil. In addition every effort is being made to reduce the paperwork involved in establishing a business in the UAE. These factors combined with a strategic, accessible location, an excellent reliable infrastructure and an extremely pleasant and safe working environment bode well for future investment.

The UAE has the third largest oil reserves in the world. However, oil contributes only one-third of the total GDP. The UAE’s ideal location - situated at the crossroads of East and West, its long coastline, its sunny climate, its natural beauty and the literacy level and hospitality of its people all contribute and augur well for its continued growth. The Government is very keen to develop non-oil manufacturing in pursuit of its policy of controlled economic diversification. The establishment of high-technology and capital intensive industries manufacturing high value products, while protecting and maintaining the environment forms the basis of the Government’s strategy towards promoting industrial growth.

Diversification has involved a number of highly imaginative and innovative developments aimed at encouraging investors to establish their enterprises in the UAE and at assisting local business people in making the most of what the UAE offers in terms of infrastructure and other support mechanisms. Aluminum, chemicals, rubber, beverages, paper, pharmaceuticals and cables are major industries. Industrial centers at Mussaffah and Ruwais in Abu Dhabi, Jebel Ali in Dubai, and in Sharjah, Ajman, Fujairah, Umm Al Quwain and Ras al Khaimah each offer several incentives to attract businesses.

The number of companies in the Jebel Ali Free Zone, the biggest in the region, now stands at well over 1300 and includes an impressive list of several multinationals. Exports from Jebel Ali are worth U.S. $ 11 billion a year and it is expected they will touch around U.S. $ 25 billion by the Year 2000. A second Free Zone is under construction in Dubai as part of the Dubai Airport Expansion Project.

Exports commodities: crude oil 45%, natural gas, reexports, dried fish, dates

Exports partners: Japan 25.6%, South Korea 9.3%, Thailand 5.8%, India 5.1% (2005)

Imports commodities: machinery and transport equipment, chemicals, food

Imports partners: China 9.9%, UK 9.7%, US 9.6%, India 8.9%, Germany 6.1%, Japan 5.5%, France 4.8%, Singapore 4.2% (2005)

United Nations Conference on Trade and Development, Islamic Development Bank, International Finance Corporation, International Monetary Fund, Organisation of Petroleum Exporting Countries, The World Bank Group, United Nations, Multilateral Investment Guarantee Agency, World Trade Organisation, Arab League Documentation and Information Centre ::[ View All ]

Abu Dhabi Securities Market, Dubai Financial Market, Dubai Gold and Commodities Exchange

Abu Dubai International Convention Centre, Al Bustan Rotana Hotel, Burj Al Arab Conference Centre, Dubai International Convention & Exhibition Centre (DICEC), Dubai World Trade Center, Expo Centre Sharjah, JW Marriott Hotel, Meridien Dubai Hotel, Renaissance Hotel :[ Add More ]

Ajman University of Science & Technology Network AUST Network, Al Ghurair University, American University in Dubai AUD, Dubai Diamond Exchange, Dubai Polytechnic, Ittihad University, Preston University, United Arab Emirates University, University of Sharjah, University of Wollongong, Zayed University