United Arab Emirates and Trade

Topics: United Arab Emirates, Arabian Peninsula, Oman Pages: 2 (505 words) Published: October 9, 2013
دولة الإمارات العربية المتحدة‎ Dawlat al-ʾImārāt al-ʿArabiyyah al-Muttaḥidah), sometimes simply called the Emirates or the UAE,[note 1] is an Arab country in the southeast of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east and Saudi Arabia to the south, as well as sharing sea borders with Qatar and Iran. The UAE is a federation of seven emirates (equivalent to principalities). Each emirate is governed by a hereditary emir, one of whom selected as the president of the federation of seven emirates. The constituent emirates are Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. The capital is Abu Dhabi, which is one of the two centers of commercial and cultural activities, together with Dubai.[6] Islam is the official religion of the UAE, and Arabic is the official language.[7] Since 1962, when Abu Dhabi became the first of the emirates to begin exporting oil, the country's society and economy have been transformed. The late Sheikh Zayed, ruler of Abu Dhabi and president of the UAE at its inception, oversaw the development of the Emirates and steered oil revenues into healthcare, education and national infrastructure.[8] UAE oil reserves are ranked as the world's seventh-largest.[9] It also possesses the world's seventeenth-largest natural gas reserves[10] The UAE has one of the most developed economies in Western Asia. Per capita income is the world's seventh highest. The earliest known human habitation in the UAE dated from 5500 BC. At this early stage, there is proof of interaction with the outside world, particularly with civilizations to the northwest in Mesopotamia. These contacts persisted and became wide-ranging, probably motivated by trade in copper from the Hajar Mountains, which commenced around 3000 BC.[12] Foreign trade, the recurring motif in the history of this strategic region, flourished also in later periods, facilitated by the domestication of the camel at the end of the second millennium BC.[13]...
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