Some key dates in the UAE's history: 1971 December - After independence from Britain, Abu Dhabi, Ajman, Dubai, Fujayrah, Sharjah, and Umm al Quwain come together as the United Arab Emirates (UAE). Sheikh Zayed Bin-Sultan Al Nuhayyan presides over the federation. 1972 - Ras al-Khaymah joins the federation. 2006 - First-ever national elections. The United Arab Emirates (UAE) is a country in the eastern part of the Arabian Peninsula located on the southeastern coast of the Persian Gulf and the northwestern coast of the Gulf of Oman.The UAE consists of seven emirates and was founded on 2 December 1971 as a federation. Six of the seven emirates (Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain and Fujairah) combined on that date. The discovery of a massive gas field on the border of Dubai and Abu Dhabi could become a significant game-changer as the country’s relations with neighboring Qatar have cooled in recent years. The Persian Gulf is, without doubt, the most prominent oil and gas production area in the world.