The United Arab Emirates in brief

The United Arab Emirates were officially established on 2 December 1971. The federal state includes 7 emirates: Dubai, Ras Al Khaimah, Abu Dhabi, Sharjah, Umm Al Quwain, Ajman et Fujairah. Abu Dhabi is the centre of the political life and of course, also the main centre for oil.   Sharjah is the cultural centre while Dubai is the financial and commercial capital of the whole region.
 
The United Arab Emirates are amongst the ten richest countries of the world. The country GDP grew by more than 200% during the last 200 years, from 28 billions USD to 84 billions USD.This incredible growth is partly due to a free market economy. The importation and exportation of  goods, the movement of capital are subject to no restrictions.
 
The customs duties are amongst the lowest in the world (more or less 4%) and furthermore some goods are exempted. Duties are charged on the CIF (cost, insurance and freight) value of the goods at the UAE port of entry.
 
The amazing economic growth of the UAE is due to the exploitation of the oil and gas. Today, the country is transforming itself into a “post-oil” economy.  Oil represents only 22% of the GDP.