FANDOM


دولة الإمارات العربية المتحدة
United Arab Emirates

Federation
Flag of the United Arab Emirates Coat of Arms of the United Arab Emirates
Motto
الله , الوطن , الرئيس
Allah, al-Waṭan, al-Ra'īs
Allah, Homeland, President
Anthem
Ishy Bilady
Map of the United Arab Emirates
CapitalAbu Dhabi
Government Presidential constitutional monarchy
President
- From 2004Khalifa bin Zayed Al Nahyan
Prime Minister
- From 2006Mohammed bin Rashid Al Maktoum
Legislature Federal National Council
History
December 2, 1971Constitution
Area83,600 km²
Population
- 20108,264,070
 Density98.8/km²
GDP2010 (PPP)
- TotalUS$ 298.9 billion
- Per capitaUS$ 36,175.966
CurrencyUAE dirham
Flag of None Federation of Arab Emirates
Flag of the Trucial States Trucial States
v

The United Arab Emirates is a presidential constitutional monarchy in Asia.


Background

The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th century treaties. In 1971, six of these states - Abu Zaby, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn - merged to form the United Arab Emirates (UAE). They were joined in 1972 by Ra's al Khaymah. The UAE's per capita GDP is on par with those of leading West European nations. Its generosity with oil revenues and its moderate foreign policy stance have allowed the UAE to play a vital role in the affairs of the region. For more than three decades, oil and global finance drove the UAE's economy, however, in 2008-09, the confluence of falling oil prices, collapsing real estate prices, and the international banking crisis hit the UAE especially hard.[1]

Economy

The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. 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. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices slowed GDP growth in 2010. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.[2]

President

  • Khalifa bin Zayed Al Nahyan () (November 3, 2004 - )


Prime Minister

  • Mohammed bin Rashid Al Maktoum () (January 5, 2006 - )

Nation

Emirati Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

Ad blocker interference detected!


Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.