Abu Dhabi, the oil-rich capital of the seven-state United Arab Emirates, is targeting an annual economic growth rate of 7 per cent over the next six years as it strives to diversify away from hydrocarbons.

From 2015 onwards economic growth will slow to an annual 6 per cent, and by 2030 the small but wealthy emirate expects to have quintupled gross domestic product, according to a government economic programme released on Wednesday.