The United Arab Emirates, a land of thriving modernity and innovation, has emerged as a leading trade and transport hub since its formation as a federation in 1971.
Celebrating its golden jubilee in 2021, the UAE is poised to host the COP28 international climate summit in Dubai in 2023, solidifying its position as a major player in the global stage.
The UAE is governed by a federal structure that includes a Supreme Council, Council of Ministers, and a Federal National Council. Headed by His Highness (HH) Sheikh Mohammed bin Zayed Al Nahyan as President, and with HH Sheikh Mohammed bin Rashid Al Maktoum serving as Vice-President, Prime Minister, and Defense Minister, the UAE's diverse system of governance gives each Emirate a voice through its local government, courts, and police forces. With elections held in 2019 and a mandate for 50% of the Federal National Council members to be women, the FNC serves as a platform for Emiratis to raise their concerns and advise the government.
As a member of several international organizations including the GCC, Arab League, UN, OPEC, and the World Trade Organization, the UAE is committed to fostering relationships and advancing its presence on the world stage. The UAE's commitment to renewable energy is also demonstrated by the headquarters of the International Renewable Energy Agency in Abu Dhabi. The Abraham Accords Peace agreement signed with Israel in 2020 further strengthens the UAE's commitment to peace and stability.
Australia and the UAE share a robust relationship characterized by expanding trade and investment, good defense and security cooperation, and a growing number of people-to-people links. With over 100 Emirates and Etihad flights operating between the two countries prior to the COVID-19 pandemic, the bilateral relationship is only set to grow stronger. The Australian Embassy in Abu Dhabi and Consulate-General/Trade Commissioner in Dubai serve as centers for enhancing trade and investment, and the representation of several Australian states in the UAE underscores the strong ties between the two nations.
The UAE boasts a thriving economy, being the Middle East's third-largest and one of the wealthiest on a per capita basis. With a GDP of US$410.2 billion in 2021 and a real GDP growth rate of 2.2%, the UAE has established a diverse economy, with 70% of its GDP generated by sectors other than oil and gas. Abu Dhabi, with the majority of the UAE's oil and gas reserves, has invested in industries such as aerospace, nuclear power, defense, and clean-tech, while Dubai has diversified into exhibitions, events, ICT, re-export, and financial sectors. In celebration of its golden jubilee, the UAE has launched 50 new economic initiatives aimed at boosting competitiveness and attracting US$150 billion in foreign direct investment over the next nine years.
Summary
The United Arab Emirates (UAE) is a modern and prosperous country that has developed rapidly since its formation in 1971. It has a federal structure with a Supreme Council, Council of Ministers and Federal National Council, each Emirate governed by its own Ruler with its own local government, courts and police forces. The UAE is a member of various international organizations including the Gulf Cooperation Council, Arab League, United Nations, and World Trade Organization. The UAE and Australia have friendly bilateral relations with extensive trade and investment links, and people-to-people contacts. The UAE has the third largest economy in the Middle East and is one of the wealthiest countries in the region, with a majority of its GDP generated by sectors other than oil and gas. Abu Dhabi and Dubai are both investing in industries such as aerospace, nuclear power, and tourism, while Dubai has also diversified into exhibitions, events, and financial sectors.
