Do you know UAE ?

The UAE is a rapidly growing and diversifying society that is successfully integrating its Islamic values into its ambitious growth agenda. It has achieved impressive economic growth since significant hydrocarbon reserves were discovered in the middle of the 20th Century. 2008 GDP came in at US$206.3 Billion on a PPP basis. Economic prosperity, coupled with a liberal business and social environment, has attracted expatriates from nearly every country in the world.

The UAE lies on the south-eastern tip of the Arabian Peninsula, bordered by Saudi Arabia to the south and west and the Oman to the southeast. The country’s total land area is about 83,600 square kilometres; more than 80% is occupied by the emirate of Abu Dhabi. About 20 percent of the UAE population of more than five million is Emirati, the rest being expatriates from Asia, Africa, Europe and the Americas. The emirates of Abu Dhabi and Dubai have over two-thirds of the country’s total population and the two major cities dominate, housing 82% of the country’s residents.

Endowed with rich natural resources, the UAE economy is dominated by oil exports although the economy has been diversifying in recent years. Oil and natural gas production accounted for slightly more than one-third of gross domestic product (GDP). The UAE has nearly 10 percent of the world’s proven oil reserves and also possesses natural gas reserves. Currently about 2.2 million barrels of oil are produced each day.

The UAE was formally established in December 1971 and consists of the emirates of Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah (which joined in early 1972), and Fujairah.

Abu Dhabi is the seat of federal government and the country’s capital. Neighbouring Dubai hosts the regional headquarters of numerous global companies. Sharjah is seen as a cultural center due to its numerous museums and heritage sites. Sharjah als has an attractive coastline, which is home to several resort hotels. Ajman, next to Sharjah, is geographically the smallest emirate, while Umm Al Quwain is situated between Sharjah to the southeast and Ras Al Khaimah to the northeast. Fujairah is near mountains (Hajar) and possesses a 90 kilometre coastline (Gulf of Oman). Ras Al Khaimah, the northern emirate, is endowed with scenic coasts, mountains, archaeological sites and agricultural lands.