Cape Verde included in European Union’s Generalised System of Preferences

14 December 2011

Brussels, Belgium, 14 Dec – The European Union decided to apply its Generalised System of Preferences, which offers preferential customs tariffs to country’s within the system, to Cape Verde, the European Commission said in a statement issued Monday in Brussels.

Following an agreement signed with the European Union, since 2008 Cape Verde has been in a transition period, which ends in 31 December, to move from category of Less Advanced Countries to that of Middle Income Countries, to which the Generalised System of Preferences applies.

According to official statistics, 94 percent of Cape Verde’s exports go to Europe, whilst 78 percent of its imports are also from Europe.

Cape Verde exports fish, sugar, cocoa, coffee, tea and textiles to Europe and imports industrial products. (macauhub)