France and the United Arab Emirates signed a 30-year cultural cooperation agreement that will lead to the construction of a new Louvre's branch in Abu Dhabi, on Saadiyat Island, only 500 mt away from the largest beach in the Emirates.
 
Real business for everyone. It's a 1000-million euro agreement. The new venue's project has been designed by star architect Jean Nouvel and it will be ready by 2012. It will display works from the most important French museums such as the Louvre, Georges Pompidou Centre, Musee d'Orsay and from Versailles palace. The museum will be named "Louvre Abu Dhabi" and the Emirates will have to pay 400 million euro to the French agency for the use of this brand. Mr Henri Loyrette, president of the Louvre, claims "it's a fair fee for the concession of the name" but he's been widely criticized for "selling" this French symbol.  
Abu Dhabi has taken bold moves to beat Dubai, the richest Emirate in the country, as Emirate Rotana Company strongly worked to win the contract to build a majestic hotel in a 7,5-hectare large area of Saadiyat. The construction of this luxurious structure (over 450 rooms) will start in 2007 as it must be ready by 2009 to match the museum.
 
 Password: diversification. Apart from the controversy, the UAE's strategy seems to be successful. The oil age wont last forever so they're now investing their profits in tourism, high finance, culture with Louvre Abu Dhabi's project and in r enewable energy technologies research. Despite this steady cultural, economic and scientific growth, human rights are far from being respected in the Emirates: most workers coming from Far East are still exploited with no regard for their security. This contrast has often caused problems to the UAE's government, but not to those who do business with them.