United Arab Emirates(UAE)
It is bordered by the Arabian Gulf to the north, Saudi Arabia to the south and west, and the Sultanate of Oman and the Gulf of Oman to the east. Oil facilitated a process of rapid growth and modernization to the area, and the emirates became independent as the United Arab Emirates in 1971.
Its seven member states are Abu Dhabi, Ajman, Dubai, Al Fujayrah, Ras al Khaymah,
Ash-Shariqah, and Umm al Qaywayn. Located in the emirate of the same name, the city of Abu Dhabi is the federal capital and the largest city.Land area of UAE
is 83,600 sq. km. (32,278 sq. mi.). The total Population is around 4,500,000.
The United Arab Emirates is important to
world energy markets because it contains 98 billion barrels, or nearly 10%, of the worlds proven oil reserves.
The UAE also holds the world's fifth-largest natural gas reserves and exports significant amounts of liquefied natural gas.
The currency is the Dirham which has a fixed rate with respect to the American dollar. $1 = 3.68 Dirham
