The United Nations Treaty Section of New York has informed the Secretariat of the United Nations Industrial Development Organization (UNIDO) that the Republic of Palau became member of UNIDO on 17 January 2023.
The Republic of Palau is an archipelago of hundreds of coral and volcanic islands, of which only 10 are inhabited. It is part of the Micronesia region in the western Pacific Ocean.
Palau is a former Pacific Trust Territory of the United States of America and bilateral relations continue under a Compact of Free Association. The US provides financial assistance and defence to Palau in exchange for rights to maintain a military presence. More than 70% of the population of some 18,000 live on the commercial hub of Koror Island.
The standard of living in Palau is among the highest in the Pacific, with well-established health and education services. Tourism grew considerably in importance during the late 20th century. Apart from tourism, commercial activities include wholesale/retail trade, business services, commercial fisheries, and construction. Fish, coconuts, breadfruit, bananas, and taro cultivation constitute the subsistence sector. Primary exports include frozen fish (tuna), tropical aquarium fish, ornamental clams and corals, coconut oil and handicrafts. Palau continues to rely heavily on imports.
Like other Pacific Island states, Palau is vulnerable to the impact of climate change, particularly to sea-level rise and an increase in extreme weather events such as storm surges.
