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» 10.12.2009 - Cape Verde eligible for second MCC compact, Niger suspended
» 29.09.2009 - Cape Verde supports multilaterism in combating orgainsed crime
» 18.08.2009 - USADF signs four grants with community groups in Cape Verde
» 17.08.2009 - Russian ship found off West Africa coast
» 27.06.2008 - More funds for Cape Verde's rural poor
» 06.09.2006 - Finance Minister resigns, citing personal reasons
» 16.10.2004 - Cape Verde to grant asylum to Guinea-Bissau officers
» 20.10.2003 - Cape Verde's PM takes over Finance Ministry

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Cape Verde
Economy - Development | Politics | Technology | Society

Cape Verde to link China and Portuguese world

afrol News, 29 May - The government of Cape Verde intends to make good use of the archipelago's "geo-strategic position" and become an intermediary link between China and Portuguese-speaking countries.

In his address to the 4th Meeting of Businesspeople for Economic and Trade Cooperation between China and the Portuguese-speaking in the capital Praia, Cape Verde's Economy Minister said Cape Verde's intermediatory will be based on cargo and passenger transport.

José Brito, was also concerned about the inefficient sea transport between the three continents. Brazil is also concerned about its link with countries on the West coast of Africa.

The meeting, that brought together 300 businesspeople and representatives from promotional institutes, provided a good opportunity for boosting links between China and the Portuguese-speaking countries. Officials from China, Portugal, Brazil, Mozambique, Guinea-Bissau, Angola and Cape Verde.

Bito said the signing of a handling deal between Cape Verde's national airline [TACV] and Air China for its Latin American routes is a clear manifestations of the benefits accrued from the link.

The Chairman of Cabo Verde Investmentos (CVI), Alexandre Fontes, made a presentation on investment opportunities in Cape Verda. He said the archipelago does not only boasts of its political and economic stability, but also its geographical location and labour force, which guarantee its high level of productivity. Fontes is also enthused by Cape Verde's competitive communications technology and international air and sea ports.

He also spoke of Cape Verde's abundant opportunies in fishing, agriculture, small industry, transport and services sectors.

Fontes lauded the government's plans to develop the private sector, encourage and promotes foreign investment as well as create a number of legal tools to lure national and foreign investors.

In another development, about 12,000 tonnes of basalt and gravel shipment is expected to leave the port of the Cape Verdean capital Praia for The Gambia this week.

The shipment of basalt and gravel would be the first of its kind since the governments signed an agreement in April 2006.

According to the Director of the Central de Britagem shipping company, Pedro Borges, the ship will return with sand from The Gambia to Cape Verde.

This development will not only stimulate the archipelago's economy, but it will also reduce the price of sand in Cape.

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