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UAE
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Full Country Name: United Arab Emirates
Area: 83 600 sq km
Population: 3.48 million (2002 est.)
Capital City: Abu Dhabi
People: Arab (55%), South Asian (28%), Iranian (8%), other expatriates (9%)
Languages: Arabic
Religion(s): Muslim (96%) Hindu (4%)
Currency: 1 UAE Dirham = 100 fils
Major political parties: None
Government: Federation
Head of State: Sheikh Khalifa Bin Zayed al-Nahyan
Prime Minister/Premier: Sheikh Mohammed bin Rashid Al Maktoum
Foreign Minister: Sheikh Abdallah Bin Zayid Al Nahyan
Membership of international groups/organisations: Gulf Co-operation Council (GCC), Arab League, Organisation of the Islamic Conference (OIC), United Nations
GEOGRAPHY
The UAE is a federation of seven autonomous Shaikhdoms with a total land area of 83,600 square kilometres. The seven emirates are Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, Fujairah, Umm al Qaiwan and Ajman. The total population is 3.48 million (85% of which is expatriate). The climate is dry sub tropical with hot summers (May to October) and high humidity near the coast.
HISTORY
Recent History
The UAE Federation was formed on 2 December 1971 as a fully independent state when the so called 'Trucial States' ended their individual treaty relationships with Britain. Shaikh Zayed bin Sultan Al Nahyan became the first President of the UAE until his death on 2 November 2004. His son Shaikh Khalifa Bin Zayed Al Nahyan was elected President on 4 November. Sheikh Maktoum bin Rashid Al Maktoum was Prime Minister and Ruler of Dubai until his death on 4 January 2006. He had been one of the UK's leading racehorse owners and had close links with the British Royal Family.
Longer Historical Perspective
The earliest significant settlements in the area which now makes up the UAE date from the Bronze Age. During the Middle Ages they formed part of the Kingdom of Hormuz. European influence began with the Portuguese in the 16th century followed by the British in the 18th century. In 1892 the British signed a number of agreements with the ruling shaikhs in the region which led to the formation of the 'Trucial States'.
POLITICS
The UAE's system of government is enshrined in the 1971 constitution. It consists of the Federal Supreme Council (consisting of the rulers of the seven Emirates), a President and Vice President (elected by the Supreme Council for a five year term), a Council of Ministers and a 40 strong Federal National Council (drawn from representatives of all seven Emirates). From the summer of 2006, half of the Federal National Council will be elected.
ECONOMY
Basic Economic Facts
GDP: 67.4 bn US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$
GDP per head: 19,600 US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$
Annual Growth: 5%
Inflation: 2.7%
Major Industries: Oil, gas, Petrochemicals, manufacturing and construction
Major Trading Partners: UK, US, France, Italy, Japan, India, Singapore, South Korea
Aid & Development: None
Exchange Rate: Dh3.67 = US\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$1
The UAE has one of the highest GNP's per head in the world. While still heavily dependent on revenues from hydrocarbons the UAE is relatively well insulated from periods of low oil prices due to successful moves towards economic diversification, large foreign exchange reserves and overseas investments.
Abu Dhabi has approximately 10% of the world's proven oil reserves and 5% of the gas. The Emirate also has an impressive investment portfolio financed from oil income. Dubai is different. It is the fastest growing city in the world. It is estimated that 50% of the world's supply of cranes are at work in Dubai on projects worth \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$100bn including an estimated \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\$800m on construction of the world’s tallest building, the Burj Dubai, which will stand 800 metres tall when completed. Dubai is home to the world's only seven star hotel, the Burj Al Arab and an indoor ski centre. Other developments include an underwater hotel, a Chess City (buildings in the shape of chess pieces) and Dubailand, which will become the world’s biggest theme park. It has been forced to diversify to compensate for far more limited hydrocarbon reserves. The economy is based on Dubai's reputation as an entre pot for the region, its vibrant tourist industry and thriving free trade zone.
The Northern Emirates fair less well, although Sharjah has established itself as a base for manufacturing. The Northern Emirates are, to a greater or lesser extent, reliant on Abu Dhabi and funds from the Federal Government.
INTERNATIONAL RELATIONS
Relations with Iran have been soured by the dispute over the sovereignty of the three Abu Musa and Tunbs islands. The UAE takes a philosophical view about the need for reconciliation with Iraq partly because of concerns that a weakened Iraq encourages Iran's regional ambitions. The UAE strongly condemned the terrorist attacks in the USA in September 2001.
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