The United Emirates are a series of seven former British states bonded together as one nation. Founded in 1971, the United Arab Emirates consists of the following states, called emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah.
(Neighboring countries, Bahrain and Oman were also individual states prior to 1971, but decided not to join the United Arab Emirates.) With its plethora of oil reserves and moderate foreign policy, the United Arab Emirates’ gross domestic product is comparable to many Western European nations.
Located strategically in the Middle East, in between Oman and Saudi Arabia, and beside Bahrain, four fifths of the nation consists of deserts. As with most desert areas, the region poses hazards of frequent sand and dust storms. Complementing the deserts include a wide array of dunes, oases, mountains and plains. The country borders the Gulf of Oman and the Persian Gulf. Its approximate geographic coordinates are 24 00 N and 54 00 E. Its total land area is about 83,000 square kilometers, which is slightly smaller than the state of Maine. However, only 0.77% of that is arable land. Overall, the United Arab Emirates has unique geographical attributes.
The United Arab Emirates has a population of about 2.6 million people. Surprisingly, its median age is 28.1 years, compared to the United States’ of 36.5 years. Life expectancy averages 75.44 years, very close to the United States average of 77.85 years. The fertility rate in the United Arab Emirates is a lot greater with an average of 2.88 children per woman compared to an estimated average of 2.09 children per woman in the United States. There are higher fertility rates in the United Arab Emirates and there is less HIV prevailing in that nation – a 0.18% HIV prevalence rate comparing to a 0.6% in the United States. The United Arab Emirates has comparable statistics with many developed counties.
From 1853 to 1971, British forces defended the seven trucial states that make up the United Arab Emirates, Bahrain and Oman. However, they were never formally admitted as British colonies. In 1994, a defense agreement with the United States was agreed upon. A year later, an agreement with France was also settled. In 2000, the United Arab Emirates purchased eight billion dollars worth of fighter jets and missiles for US defense contractor, Lockheed Martin. Military is quite significant in the United Arab Emirates.
The United Arab Emirates has a very interesting economy. It is one of the most capitalist countries in the world with its 0% income tax rate for both individual and corporate sectors. One major concern is that the economy is directly tied to oil prices. There are proven reserves of almost 100 million barrels in the region. About 2.5 million barrels of oil are exported each day. Currently, the Emirates have been prospering due to the surge in oil prices in the recent year. The increased revenues for many oil-related investors in the Emirates gave them access to a large sum of cash. In February 2006, a United Arab Emirates state-owned port holding company, DP World, headquartered in Dubai, was attempting to purchase a British port company, P&O. As a holder of many port concessions in the United States, the US government opposed the sale of P&O to a foreign company. As a result, the deal fell through and was not successful. However, today, many people from the United Arab Emirates still own significant states in large companies and prime real estate throughout the world.
The relaxed economic system also gives the nation many. One of those problems includes illicit drugs. Due to its close proximity to drug-producing countries in Southeast Asia, and its central Middle Eastern location, and its existence as a major financial center, the United Arab Emirates is a hub for the drug trade. Money laundering is also a great problem, as the United Arab Emirates has limited government regulation on money.
All in all, the United Arab Emirates is one of the most prosperous nations in the Middle East. With its plethora of oil, central location between Europe and Asia and relaxed economic system, the nation is bound to prosper for many years to come.