The handover took place at the 21st meeting of the MPS in Pohnpei on Monday.
President Kun is in Pohnpei to attend the 21st MPS and on invitation to the 25th Micronesian Islands Forum (MIF).
A statement said Nauru and Kiribati are not members of the MIF but it is the intent of the MIF to formally invite Nauru and Kiribati to become members at its meeting yesterday.
President Kun said despite the chaos and crisis of the recent past, the MPS has emerged stronger through a renewed sense of solidarity, standing side-by-side through a period of sensitive negotiations.
