Well, it's just big enough to be a real nation but small enough to be a good place to experiment, so I'd probably try some form of meritocracy. If there were elections of some sort, voting would be a privilege to be earned through some kind of national service and not simply given to any idiot who comes of age. Alternatively, people would be elected to promotion by their peers and their direct superiors, as people will probably care more and think about who they vote for if the person has a very direct and noticeable effect on them.
1. Education. Build at least one top-notch science based university to attract young talent from other countries.
2. Respect for personal freedoms.
3. A small but elite military force would be maintained to deal with ordinary threats such as pirates or smugglers. Citizens would also attend boot camp in high school if they are physically able and learn how to use small arms. Every home having an adult of fighting age would be required to have a government issued firearm in a similar style to how Switzerland did it, though the guns would be in sealed cases which would send a signal to command when opened to notify them of unauthorized use of said weapons. Ideally the guns themselves could have a tracker on them as well. (this is not to say private gun ownership would be similarly regulated, but the guns distributed for defense are government property)
4. Profits from resources would be used to fund a variety of programs - education (schools, scholarships, etc.) and some kind of social security for retirees, things like that. Nothing could go into the pockets of the heads of government outside of their general salary, which would be good but not absurd.
5. Ecological conservation efforts where feasible. Use eco-tourism to help make this economically viable.
Given the small size of the nation we'd be neutral in world conflicts that don't involve anything near us. If there was something occurring near us it would depend on the nature of the conflict.
Relations would otherwise be about trade and ensuring that we are able to make good money off of our resources.
