Cabo Verde gains access to European Union’s Generalised System of Preferences

9 January 2014

The Cape Verdean government said Wednesday that the recent approval of Cabo Verde’s access to the European Union’s Generalised System of Preferences (GSP+) was an “important step” in the country’s relationship with the EU.

In a statement, the Cape Verdean Ministry for Foreign Relations said that on 28 December 2013 the European Parliament officially approved the European Commission’s proposal to improve Cape Verde’s access to the EU market and that the measure was put in place on 1 January of this year.

“Access to the SGP+ is an important step to boost trade relations between Cabo Verde and the EU and may support its integration in the international economic system,” the document said.

The Generalised System of Preferences+ is made up of a set of EU rules that allows exporters from developing nations to pay lower customs taxes on all or some of the products they sell to the EU.

The GSP+ provides tax-free access by several products. In 2012 the EU imported goods worth 4.9 billion euros from beneficiary countries. (macauhub)