United Arab Emirates - Overview:
The United Arab Emirates (UAE) is one of the most stable and untroubled countries in the Arab world and is a major international business centre. It shares borders with Oman and Saudi Arabia and has extensive coastline on both the Persian Gulf and the Gulf of Oman. The country is also a member of several international organisations including the Arab League, the United Nations, the International Organisation for Industrial Development, the Organization of the Petroleum Exporting Countries, the Organisation of Arab Petroleum Exporting Countries and the World Trade Organisation.

The UAE was formed in 1971, when the six states (emirates) of Abu Zaby, Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn merged. The next year the country was expanded to include the state of Ra's al Khaymah. Each of the states has its own hereditary ruler, which together form the Supreme Council of Rulers. The council from amongst its members then elects a President and Vice-President and the president in turn appoints a Prime Minister and Council of Ministers.

The country is extremely cosmopolitan with a large proportion of the population being comprised of non-UAE nationals mainly from Europe, Asia and other Arab nations. Arabic is the official language, although English is also widely spoken. Other common languages include Persian (Farsi), Urdu and Hindi.

Economy:
The UAE is one of the wealthiest countries in the Middle East and has invested billions of dollars to transform the nation into a modern society. The country has significant oil and gas industries, with reserves that are expected to last more than 150 years, at present production rates. However, the government is committed to diversifying the economy and has also established strong manufacturing, agricultural and service sectors. In fact, the non-oil sector now accounts for approximately two thirds of GDP, which stood at about 54 billion USD in 2000.

All businesses operating in the country are required to have a minimum of 51per cent local citizen ownership. The exception to this is in the country's numerous free trade zones, where 100 per cent foreign ownership is permitted.

The UAE's main export partners include Japan, South Korea, Oman, and Iran, while Japan, the UK, the USA and Germany are the chief supplier of imports such as manufactured goods, machinery, and foodstuffs.

Infrastructure:
Considerable investment has gone into ensuring the country benefits from a sophisticated transport infrastructure. There are six international airports at Abu Dhabi, Al Ain, Dubai, Fujairah, Ras al-Khaimah and Sharjah, the largest of which are located in Abu Dhabi and Dubai. Together, these airports provide flights to numerous destinations with Dubai airport alone offering connections to over 110 cities worldwide.

With nine modern commercial seaports, the UAE is responsible for a large proportion of the shipping capacity in the Gulf. Dubai is home to the country's largest ports, Rashid and Jebel Ali, while Abu Dhabi's Port Zayed is the country's third largest and responsible for the majority of crude oil exports.

Workforce:
The UAE is committed to developing a skilled workforce that can compete in the global market. Primary education has been a universal right for all citizens since 1972 and the education system is among the most progressive in the region. The country also has more than 30 institutions of higher education.

New Technologies:
Due to the government's commitment to the development and utilisation of new technologies, the United Arab Emirates is fast becoming one of the most technologically advanced countries in the Gulf region. Government initiatives such as the Centre of Excellence for Applied Research and Training (CERT), which operates two science and technology parks in the country, help to provide the support and expertise for the development and uptake of the latest technologies.

According to the Dubai Development and Investment Authority over 38 per cent of the country's population is using the internet, compared to a figure of 40 per cent for the European Union.

Business Costs:
The UAE offers competitive operating costs. Indeed, companies that establish themselves in one of the country's free zones do not pay import and export duties and enjoy some of the lowest tariffs in the region. Furthermore, companies can attain 100 percent repatriation of capital and profits and pay no corporate tax.