Cabo Verde trade to benefit from EU Generalised System of Preferences

28 November 2013

Cabo Verde (Cape Verde) is expected in 2014 to be included in the European Union’s (EU) trade incentive programme known as the Generalised System of Preferences (GSP), in order to boost competitiveness and diversification of the archipelago’s economy, the President of the European Commission (EC) said in Brussels.

At the end of a meeting with Cabo Verde’s Prime Minister, José Maria Neves, who took part in the European Development days on 26 and 27 November, José Manuel Durão Barroso said that the EU was willing to assist Cabo Verde through a preferential trade agreement for Cape Verdean products to be exported to Europe.

The Commission therefore proposed Cabo Verde’s inclusion in the GSP, which will allow its access to the European market under more favourable conditions. “We hope that Cabo Verde will already have access to the system at the beginning of 2014,” said Durão Barroso.

The GSP is a system designed by the United Nations Conference on Trade and Development (UNCTAD) for goods from developing nations to have privileged access to developed markets.

According to Cape Verdean news agency Inforpress, Durão Barroso also said that the European Union would continue to help Cabo Verde deal with the “negative impact,” of the international economic and financial crisis. (macauhub)