Dubai is the most populous city and is one of the seven emirates of the United Arab Emirates (UAE). It is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi. Dubai and Abu Dhabi are the only two emirates to have veto power over critical matters of national importance in the country's legislature. It is rather like an independent city-state and is the most modern and progressive emirate in the UAE, developing at an unbelievable pace in the tourist and trade sectors especially. Recently Dubai won the bid to host EXPO 2020, a Universal scale Registered Exposition approved by the Bureau of International Expositions (BIE), Paris.