• A deal between Britain and the Trucial States gives Britain control over foreign affairs and each emirate control over internal affairs.

  • Oil is discovered, leading to great wealth and prosperity in the country.
  • Oil is exported for the first time, from Abu Dhabi.  

  • After the British-Trucial Sheikhdoms treaty expired, Abu Dhabi, Ajman, Dubai, Fujairah, Sharjah, and Umm al-Quwain come together to form the United Arab Emirates (U.A.E.).

  • The U.A.E. joins the Arab League.
  • The U.A.E. becomes a founding member of the Gulf Cooperation Council.
  • Economic changes are announced that include bringing the days of the official weekend in line with Western nations, reducing the dependence on foreign workers, and allowing laborers to form trade unions.

  • The U.A.E. withdraws from plans for a Gulf monetary union, limiting further economic integration in the region.

Sources:

BBC News open_in_new
Britannica open_in_new