Palau is a small, island country located in the Pacific Ocean with a population of around 17,000 people. The economy of Palau is largely dependent on tourism and fishing with its GDP per capita estimated at US$11,000 in 2017. In terms of foreign relations, Palau has strong ties to other countries in the region such as the United States and Japan as well as other countries around the world. It is also a member of the United Nations, Pacific Islands Forum and Micronesian Cooperation Council (MCC). In terms of politics, Palau has a multi-party system which includes two major parties: National Congress Party (NCP) and United Democratic Party (UDP). The Parliament consists of 13 members who are elected by popular vote every four years. In 2017, UDP won majority in parliamentary elections under President Tommy Remengesau Jr’s leadership. See militarynous for Palau military and defense.
Palau. In January, President Tommy Remengesau swore in for a second term. Several members of the Senate questioned the cost of the ceremony, which amounted to the equivalent of US $ 200,000. The president defended the huge expense of preparing for the event, giving the country a “face lift”. See ABBREVIATIONFINDER for frequently used acronyms and abbreviations related to as well as country profile of Palau.
In September, Palau was one of 53 countries that signed the UN agreement on a global ban on nuclear weapons. In a speech before the UN General Assembly, President Remengesau called on the leaders of all countries of the world to sign the agreement.
In October, it became clear that the Japan Airport Terminal, which operates the Haneda International Airport in Tokyo, merged with the Palau International Airport Corporation to operate and upgrade the airport in Palau. According to a spokesperson for the Japanese company, investments in an expansion of the terminal building and other infrastructure of the equivalent of US $ 31 million would mean a lot to Palau’s tourism industry. Of the approximately 160,000 tourists who traveled to Palau in 2015, about 30,000 came from Japan.
According to Countryaah.com, Palau was one of 17 countries and territories included in the EU’s first black list of tax havens, published in December.