Brussels, 12/12/2011 (Agence Europe) - The islands of Cape Verde, which currently enjoy preferential access to the EU market under the “Everything but Arms” scheme, will now be able to benefit from the GSP +.
As a least-developed country Cape Verde enjoys access to the EU market with neither duty nor quotas as part of the “Everything but Arms” initiative. It will now sign up to the Generalised System of Preferences of the EU, GSP +, which gives third countries preferential access to the EU market once they fulfil good governance conditions. “Cape Verde is today the first African nation to sign up to GSP +. This is excellent news for the country's sustainable path to development”, said Trade Commissioner Karel De Gucht in a press release issued on 9 December.
Cape Verde, which was granted least-developed country (LDC) status by the UN in 2008, with a transition period of three years expiring on 31 December of this year, received the approval of the Commission on 9 December to join the GSP + system, which commits the country to effectively implement 27 principal international conventions on human and employment rights, the environment and good governance. The EU, which absorbs 94% of Cape Verde's exports (mainly agri-food products) is the country's principal outlet, and 78% of its imports come from Europe. The most dynamic economic sector in Cape Verde is tourism, but the GSP does not cover services, which will be discussed in the framework of the economic partnership agreement between the EU and West Africa. (EH/transl.fl)