United Arab Emirates - Country history and economic development

1820. Britain imposes a non-aggression pact on the rulers of the UAE for disrupting Indian-bound trade.

1892. Britain and the local rulers agree to transform the region into a British protectorate.

1958. Large quantities of oil are discovered in Abu Dhabi.

1971. Iran seizes 3 UAE administered islands: Abu Musa and the Tunb islands.

1971. Britain withdraws. The UAE is formed with all of the current emirates except Ras al-Khaimah.

1971. The UAE joins the United Nations and the Arab League.

1972. Ras al-Khaimah joins the UAE.

1973. OPEC raises the price, and cuts the supply, of oil. UAE GDP growth is 10 percent annually in the 1970s.

1981. Iran-Iraq war begins. The UAE financially supports Iraq. The UAE joins the Gulf Cooperation Council and pegs the dirham to the U.S. dollar.

1985. Dubai launches the Jebel Ali Free Zone.

1991. Gulf War begins. The UAE pays US$10 billion to support the anti-Iraq coalition.

1996. The UAE constitution becomes permanent. Abu Dhabi city is recognized as the UAE capital.

1996. The UAE agrees to a defense pact with the United States.

1999. Dubai Internet City and the Dolphin Gas Project are both unveiled.

2000. The first regulated UAE stock market, Dubai Financial Markets, opens for trading.

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Jun 30, 2011 @ 6:06 am
What a beautiful country you have, personally i heavy the rapid development that characterise the country united arab emirate. I hope the country will continue to develop both in human & material resourses. I believe if the country continue in these phase, i won't be suprise if the country find itself at the top of the world.

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