On this occasion, the two leaders witnessed a signing ceremony of Memorandum of Understanding on Technical Cooperation and Development as a mechanism for the exchange of expertise and experience in the 5 areas of Vanuatu’s need, which are education, agriculture, public health, sustainable development, and promotion of trade and investment and tourism. Tourism industry, in particular, is considered 40% of Vanuatu’s Gross National Product (GNP).
Thailand has established a diplomatic relations with Vanuatu since September 21, 1982. At present, there are 17 Thai citizens residing in Vanuatu to conduct Thai restaurants and traditional massage businesses. Vanuatu is a significant country of the South Pacific region since it is the source of raw materials for Thai fishery industry. In 2012, total trade value between the two countries was 176 million US Dollars (around 5.28 billion Baht). Within the past 5 years, Thailand has been the top export market of Vanuatu with such products as fresh/chilled/frozen/processed/semi-processed seafood especially tuna, whereas Thai export products to Vanuatu are automotive parts and devices, canned and processed food, ready-made garments, and sugar.