Cape Verde: Country becomes 153rd member of WTO

24 July 2008

Cidade da Praia, Cape Verde, 24 July – Cape Verde became on Wednesday the 153rd member of the World Trade Organization, concluding a candidacy process that began in 1999, officials said.

Cape Verde has until 2018 to adopt all its WTO convergence targets, particularly in relation to trade legislation, customs codes and authors’ rights.

Economy Minister Fatima Fialho said Wednesday the islands are in the process of altering trade legislation, as occurred with standardization of customs rules last year.

Cape Verde is the first African state to join the WTO though direct negotiations and the second in the world, after Tonga, which joined while still a less-developed state.

The WTO, created in 1995, oversees accords on trade rules. (macauhub)