United Arab Emirates

The United Arab Emirates (UAE), federation of seven independent states, occupies an area of 83 600 sq km along the southeastern tip of the Arabian Peninsula. It is bordered by the Persian Gulf to the north, Saudi Arabia to the south and west, and Oman and the Gulf of Oman to the east. Four-fifths of the UAE is desert, yet it is a country of contrasting landscapes with a unique amalgamation of mountains, beaches, deserts, oases and thriving city centers.

Straddling the Tropic of Cancer, the UAE is warm and sunny. But with interior temperatures reaching 49°C during the summer months, the best time to visit the UAE is between October and November and then February and March, when temperatures are relatively cool, ranging between 20° and 35°C and when humidity is under control. 

The UAE had an estimated population of 4,798,491 in 2009. It has grown dramatically since the mid-1960s, largely due to the influx of oil workers to the country. Only 15-20% of the total population is U.A.E. citizens. The rest include Arabs--Palestinians, Egyptians, Jordanians, Yemenis, Omanis--as well as many Indians, Pakistanis, Bangladeshis, Iranians, Afghans, Filipinos, and west Europeans. Despite this diversity, the level of tensions between the various ethnic communities is very slight.

The UAE has a stable economic and political background and due to its strategic location, the UAE has been hosting & providing routes to business since centuries. 

The country is a constitutional federation of seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah. The constitution, provisionally adopted at independence in 1971 and made permanent in 1996, established a federal government in which every emirate has its own ruler and is endowed with many powers and functions. 

The UAE is a most developed economy that provides a very high standard of living and has high market potential and business opportunities. It offers easy access to the 1.5 billion consumer markets situated in Africa, West Asia, CIS countries, and East Europe as well as the areas surrounding the Red Sea and the Gulf. With 11 state-of-the-art ports, 6 airports and satellite links with 230 countries, the UAE has become one of the leading enter port centers of the world, rivaling the emerging tigers of South East Asia, having long since consolidated its position among the top oil producing nations. 

Oil and gas are the UAEs’ main industries, and underpin the country’s considerable prosperity. Although despite having abundant oil reserves, the country has always made efforts to broaden its economic base and reduce its exposure to volatile oil price fluctuations. The country launched a diversification and liberalization program to transform its economy from a conventional, labor-intensive economy to one based on knowledge, technology and skilled labor. The government allots $13.4 billion to the development of the non-oil sector, much of which spent on telecommunications and information technology.

The UAE economy is booming, average GDP growth from 2000 to 2006 in the UAE was about 8.4 percent. And in 2008, the UAE economy recorded a growth of 7.4%, keeping the country well on course as a major financial player in the region.

The country offers lucrative investment incentives and opportunities to local as well as international investors that are not generally available internationally. Significant among these are absence of corporate and income tax, no personal income taxes, no foreign exchange controls, 100% repatriation of capital and profits.

The UAE also became an important player in regional and international affairs. It is a contracting party to the General Agreement on Tariffs and Trade (GATT) since 1994 and a member of the World Trade Organisation (WTO) since 1996. It is also a member of the Greater Arab Free-Trade Area (GAFTA) in which all Gulf Cooperation Council (GCC) states participate. 

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