Vanuatu

Country Overview

Vanuatu is located in the southwestern Pacific Ocean, consisting of 83 islands with a land area of 12200 square kilometers and a marine exclusive economic zone area of 680000 square kilometers. It has a population of approximately 290000 people and gained independence on July 30, 1980.

Vanuatu has abundant tourism resources. The beautiful natural scenery and rich Melanesian culture attract tourists from all over the world, and tourism is the economic pillar. Belonging to a typical tropical marine climate, known as a "diving paradise", Tana Island has the only nearby active volcano and volcanic post office in the world. Pentecost Island is the birthplace of land bungee jumping, and Hedwig Island has established the world's first underwater post office. During important festivals, drinking kava wine and pig killing activities are held to celebrate. The local customs are simple and the society is stable. The development conditions of agriculture, animal husbandry, and fishery are good, with abundant production of tuna, beef, coconuts, cocoa, coffee, cassava, nori fruit, kava, and so on. The market is highly open and convenient, the legal system is sound, the government encourages foreign investment, and the investment environment is constantly improving. In 2019, the Vanuatu government updated the Foreign Investment Law to further regulate and facilitate foreign investment. The economy continues to grow, with a gross domestic product (GDP) of 943 million US dollars in 2018, a real growth of 3.4%, and an expected GDP growth of 3.3% in 2019.

Affected by the COVID-19 and Hurricane Harold in 2020, Vanuatu's economic development will face enormous challenges.

Since 2013, under the "the Belt and Road" initiative, the two countries have carried out practical cooperation in trade, investment, contracting projects, economic and technical assistance and other fields, and achieved fruitful results. In 2014, the Chinese government granted zero tariff treatment to 97% of Vanuatu's taxable products.   In October 2019, the third China Pacific Island Countries Economic Development Cooperation Forum was successfully held, further strengthening economic development cooperation between China and Pacific Island countries. In the future, the two countries will continue to strengthen extensive cooperation in trade and investment, infrastructure construction, transportation and communication, agriculture and fishery, tourism, culture, education and health within the framework of the "the Belt and Road".

The Business Office of the Chinese Embassy in Vanuatu will implement relevant policies and measures, play an active role in providing guidance, services, and assistance to Chinese enterprises, promote foreign investment cooperation, expand the breadth and depth of China Vanuatu economic and trade cooperation, and jointly promote the continuous development of bilateral economic and trade relations.

Vanuatu people lived here thousands of years ago. After 1825, missionaries, merchants, and farmers from countries such as England and France came to this place one after another. In October 1906, France and Britain signed a co administered treaty, and the country became a co administered colony of Britain and France. In 1940, the Jon Furen Movement occurred, openly proposing slogans such as "against the church, against white people, and against the government.". The first political party, the Rural Party, emerged in 1963, calling for the recovery of land and the realization of independence. Due to the rapid development of ethnic movements, Britain and France agreed to implement internal autonomy in the country in January 1978. On July 30, 1980, it gained independence and was named the Republic of Vanuatu. Walter Lini, the leader of the New Hebrides Party (later renamed the Vanuaku Party), was appointed as the first Prime Minister, and Sokomanu was appointed as the President. Current President Obed Talis (inaugurated in July 2017) and current Prime Minister Bob Rafman (inaugurated in April 2020).