In the early 1960s, oil was discovered in Abu Dhabi, an event that led to quick unification calls made by UAE leaders in 1971. Sheikh Zayed bin Sultan Al Nahyan became the ruler of Abu Dhabi in 1966, and the British started losing their oil investments and contracts to US oil companies. The history of Dubai was proclaimed in 2 sections, from before and after the oil discovery. The main city life was changed when the oil fields Fateh was discovered in 1966 approximately 60 nautical miles from the coastline. From them onwards, the matter quickly escalated and the oil shipment of black gold with an approximate of 180,000 barrels was exported.
Throughout 25 years the UAE has become a country with one of the highest living standards. Today, every fifth citizen of the United Arab Emirates is a millionaire. Development of oil industry in the country has also attracted foreign labor force, the proportion of foreigners in the country is more than two thirds of the total population. Understanding that oil reserves in Dubai may soon be exhausted, today the government of the UAE has an active policy of economic diversification in the direction of free trade zones, tourism, finances and re - exports.
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