Cape Verdean government sets up commission to negotiate with China National Fisheries Corporation

7 October 2011

Praia, Cape Verde, 7 Oct – The government of Cape Verde has approved the creation of a commission to negotiate the Cabnave/China National Fisheries Corporation (CNFC) and methods of setting up the Fishing Logistics Centre, according to the Cape Verdean press.

According to the decision published in the Official Bulletin, the commission has an eight-day deadline to put forward a plan of action for the phases of negotiation, a cost proposal for the team and a strategic proposal as well as the main points to be negotiated with CNCF, for appreciation by and approval from the minister for Finance and Planning.

The commission is charged with negotiating CNFC’s stake-holding in Cabnave and these negotiations will be based on the guidelines included in a memorandum of understanding signed in Beijing in July, 2009.

The Ministry for Finance and Planning guidelines suggest that investments in Cabmar be separated from investments of a more operational and maintenance nature to be made in Cabnave.

As part of the process of privatising Cabnave, now underway, CNFC has shown interest in acquiring a stake in the Cape Verdean company, which has led to the possibility of the government building the Fishing Logistics Centre in Sao Vicente. (macauhub)