WT/TPR/M/322  
24 November 2015  
(15-6179)  Page: 1/30  
Trade Policy Review Body 
6 and 8 October 2015   
 
  TRADE POLICY REVIEW 
CABO VERDE 
MINUTES OF THE MEETING 
Chairperson: H.E. Mr. Atanas Atanassov Paparizov (Bulgaria) 
CONTENTS 
 
1  INTRODUCTORY REMARKS BY THE CHAI RPERSON ....................................................... 2  
2  OPENING STATEMENT BY THE REPR ESENTATIVE OF CABO VERDE ............................... 4  
3  STATEMENT BY THE DISCUSSANT ................................................................................ 7  
4  STATEMENTS BY MEMBERS ........................................................................................ 12  
5  REPLIES BY THE REPRESENTATIVE OF CABO VERDE AND ADDITIONAL 
COMMENTS ..................................................................................................................... 23  
6  CONCLUDING REMARKS BY THE CHAI RPERSON ......................................................... 29  
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies 
provided by Cabo Verde are reproduced in document WT/TPR/M/322/Add.1 and will be available 
online at http://www.wto.org/englis h/tratop_e/tpr_e/tp_rep_e.htm. WT/TPR/M/322 • Cabo Verde 
 
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  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1.1.  The first Trade Policy Review of Cabo Verde was held on 6 and 8 October 2015. The 
Chairperson H.E. Mr Atanas Atanassov Paparizov (Bulgaria) welcomed the delegation of Cabo Verde headed by H.E. Madame Leonesa Maria do Nascimento Lima Fortes, Minister of Tourism, 
Investment and Business Development; H.E. Ambassador José Luis Monteiro, Permanent 
Representative of Cabo Verde to the WTO; the rest  of the delegation from Praia; the rest of the 
colleagues from the Mission in Geneva; and the discussant, H.E. Ambassador Daniel Blockert 
(Sweden). 
1.2.  Before starting the meeting, the Chairperson informed Members that the United Nations 
Industrial Development Organization (UNIDO) wished to attend the meeting as an observer on an ad hoc  basis. The request from UNIDO also covered ad hoc  observer status for the upcoming Trade 
Policy Reviews of the Southern African Customs Un ion (SACU) on 4 and 5 November, and Haiti on 
2 and 4 December 2015. UNIDO had been working closely with these countries recently and was designing Trade Capacity Building Programmes in collaboration with them. Thus, if there were no 
objections, the Chairperson suggested that Members grant UNIDO observer status for these three 
meetings, and accordingly invited the representative of UNIDO to join them at this TPR. It was so 
decided. 
1.3.  The Chairperson recalled the purpose of the Tr ade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Cabo Verde was contained in document WT/TPR/G/322 and that of the WT O Secretariat in WT/TPR/S/322. 
1.4.  Questions by the following delegations had been  submitted in writing before the deadline of 
5.30 p.m. of 22 September and had been transmi tted to the delegation of Cabo Verde: the 
European Union; the United States; Canada; and Brazil. Three delegations submitted written questions after the deadline: China; Brazil (additi onal questions); and Argentina. These questions 
had also been transmitted to the delegation of Cabo Verde. 
1.5.  Having graduated from UN LDC status at the end of 2007, Cabo Verde was now classified as 
a lower middle-income economy with an annual per capita income of around €2,800. The country's 
economic development had been underpinned by sound macroeconomic management, and good 
governance. Cabo Verde was resource poor, except  for fish, and vulnerable to natural disasters 
and shocks from the global economy. Nevertheless, a well-established tourism sector and significant remittances from a large Cabo Verdean diaspora had to some extent cushioned the 
economy against the most severe shocks. 
1.6.  The European Union was historically Cabo Verde's most important trading partner. Economic 
difficulties in key partners had affected the economic performance of Cabo Verde, first in 2009 and 
again from 2012. The economy was nevertheless growing at present, although well below the long 
term average. Unemployment remained high at almost 16%. 
1.7.  Cabo Verde was a long-standing member of ECOWAS and had negotiated an Economic 
Partnership Agreement with the European Union together with its ECOWAS partners. ECOWAS was 
implementing a Common External Tariff (CET), but the CET was not yet operational in Cabo Verde. The CET exceeded Cabo Verde's tariff bindings on more than 500 tariff lines, and an increase in the ECOWAS levy was also inconsistent with Cabo Verde's current Goods Schedule. The 
Chairperson was confident that Members would be interested in Cabo Verde's strategy to resolve 
these issues together with interested Members.  
1.8.  Cabo Verde had for many years been engaged in Government reform and was seeking to 
achieve a pro-business environment that encouraged  entrepreneurship and innovation. The effects 
on the trade-related regime were manifold, including new laws governing investment, customs operations, and fiscal incentives. Cabo Verde now had in place a single window for investors, and 
was moving to introduce a similar system for international trade.  
1.9.  The Chairperson noted that delegations had referred in their questions to these and many 
other issues and he looked forward to  hearing comments from Cabo Verde. WT/TPR/M/322 • Cabo Verde 
 
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  1.10.  The Chairperson closed his introductory remarks by wishing Cabo Verde a very successful 
first Trade Policy Review. He looked forward to its active engagement in this TPR. 
1.11.  He also noted that a podcast would be made of the meeting which could be accessed on the 
Members' website. WT/TPR/M/322 • Cabo Verde 
 
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF CABO VERDE (H.E. MADAME 
LEONESA MARIA DO NASCIMENTO LIMA FORTES) 
2.1.  I would first of all like to thank you, Mr Chairman, for your kind words of welcome to the 
delegation of Cabo Verde. 
2.2.  My thanks also go to: 
 the Permanent Representative of Sweden for agreeing to act as the discussant for this 
review; 
 the WTO Secretariat and the Director General for successfully preparing the report on Cabo 
Verde and for the quality of the dialogue with the Government; and lastly, 
 the various Members that took an interest in Cabo Verde's trade policy and sent advance 
questions. 
2.3.  My delegation and I are fully committed to participating in this first review of Cabo Verde's 
trade policies. 
2.4.  My country is a small island State on the Atlantic Ocean, with a population of 
500,000 inhabitants, a Sahelian climate and limited natural resources. It has taken on the 
challenge of reducing poverty, increasing its opportunities and ensuring greater dignity for its citizens. This path has been marked by the endeavours and determination of Cabo Verde's 
successive governments to build a State based on the rule of law, peace and social stability, 
governed by democratic institutions and keen to preserve the broader macroeconomic balances and core principles of good governance. 
2.5.  One aspect of the country's recent history that deserves special mention is Cabo Verde's 
graduation from the status of least developed country according to the UN classification as a result 
of major long term investment, especially in education, health and other factors of human development, and a significant rise in per capita GDP. 
2.6.  Cabo Verde's accession to the WTO in 2008 was a milestone in the pursuit of market oriented 
economic policies since 1991, aimed at facilitating foreign investment, promoting the private sector, including through privatization, and fostering the development of tourism, the fish 
processing industry, transport, communications and energy. 
2.7.  Cabo Verde's accession to the WTO and its reclassification as a middle income country on the 
one hand bore witness to its gains and accomplishments and, on the other, gave rise to new challenges that prompted the Government to ad opt a series of measures and implement a whole 
range of reforms to increase economic prod uctivity and press on with gradual market 
liberalization, whilst improving conditions conducive to poverty reduction and greater shared prosperity. 
2.8.  As stated in the Government report, Cabo Verde has spared no effort since its accession to 
the WTO in taking a variety of measures and im plementing a number of reforms to improve its 
trade policy and facilitate trade, while facing constraints on the competitiveness of the country and 
its businesses. 
2.9.  We have given new momentum to tourism development; air and maritime transport are 
expanding gradually and in turn galvanizing other forms of economic growth and competitiveness. 
2.10.  Financial services are growing, in a move to turn Cabo Verde into a financial centre in the 
region. 
2.11.  Significant gains are still being made in the information technology field. 
2.12.  In order to fully exploit the country's maritime potential, one of the Government 
programme's strategic priorities is to create a maritime cluster encompassing inter alia tourism, 
fisheries, water, energy, industry, maritime transport and water sports. WT/TPR/M/322 • Cabo Verde 
 
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  2.13.  Today, with Cabo Verde's increased opportunities, the fundamentals of the economy have 
been stabilized and there is more competition. The Government has vastly reduced the tax burden, is investing heavily in human capital development and is seeking to promote and support the development of the private sector, which has now grown. 
2.14.  The Government is also seeking to ensure the active participation of the Cape Verdean 
diaspora in the country's development activities. 
2.15.  Cabo Verde received a large number of advance questions from Members. They reflect the 
complexity of its trade policy and pinpoint some of the numerous challenges facing it in this 
respect. 
2.16.  Most of the replies to these questions were prepared and submitted via the Secretariat. 
Those outstanding at the end of this review will be answered within the prescribed deadlines. 
2.17.  Inevitably, Cabo Verde's trade policy is largely in line with the subregional framework of the 
Economic Community of West African States (ECO WAS), to which the country belongs. A milestone 
in this connection was the adoption of the ECOWAS CET in December of last year. The Government 
and Parliament of Cabo Verde are aware of the n eed to approve and ratify the agreement on the 
CET, and the Government is preparing for its actual implementation. 
2.18.  Cabo Verde is determined to accelerate and deepen its integration within the region and to 
make better use of the opportunities offered to it as a beneficiary of preferential trade 
arrangements such as the AGOA and the GSP+, which will make it easier for it to diversify its trading partners. 
2.19.  Our country is pursuing its efforts to attract foreign direct investment by streamlining tax 
incentives, creating a single window for investment, and generally improving the business 
environment. 
2.20.  We are referring in particular to the "change to compete" programme, which has been 
approved by the Government and comprises a set of measures aimed at enhancing the business 
climate, rationalizing institutions, modernizing public administration and increasing the competitiveness of the economy. 
2.21.  Cabo Verde's economy has long been open to the world. GDP growth averaged 5% per year 
between 2001 and 2008, slowing down with the ou tbreak of the international crisis in 2009 and 
the current Eurozone crisis, and stabilizing at 2.7% in 2014. 
2.22.  Inflation has stabilized at sustainable levels, facilitating economic recovery. 
2.23.  Cabo Verde has developed its human capital an d implemented economic policies that seek 
to promote the country's comparative advantages, including incentives to stimulate foreign direct investment, with an emphasis on tourism, and strategic public investment in various types of 
physical infrastructure, telecommunications, electrification and renewable energy. 
2.24.  The services sector has received the lion's share of such investment and its relative weight 
has increased, since now it accounts for over 70% of GDP and 71% of exports. 
2.25.  On the other hand, there has been a decline in the contributions of the primary sector and 
primary industry, which fell to around 5% and 6%, respectively, in 2014. The weak contribution of 
industry to GDP is due to the major constraints posed in particular by the scarcity of natural 
resources and arable land and the lack of tradit ional energy resources, which make Cabo Verde 
heavily reliant on imports. 
2.26.  Cabo Verde is also stepping up its efforts in the field of intellectual property protection. In 
2014, the Government established the Quality Management and Intellectual Property Institute in 
order to improve the quality of products manufactured or processed in the country, enhance 
domestic competitiveness and increase the gains afforded by the protection of intellectual 
property. WT/TPR/M/322 • Cabo Verde 
 
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  2.27.  The commitments undertaken by Cabo Verde during its process of accession to the WTO 
essentially concern the revision and adjustment of its regulatory framework to the WTO Agreements. 
2.28.  As regards the regulation of imports and exports, foreign investment and customs matters, 
many of the country's commitments were implemented during the accession process. 
2.29.  Points worthy of mention during the post accession process are the adoption and 
implementation of the new Customs Code, which br ings customs procedures and duties into line 
with the WTO Agreements; the adoption and implementation of the new Foreign Investment Code, 
which lays down the principle of freedom of in vestment and extends its scope; and the approval 
and implementation of the new Tax Benefits Code, which merges the relevant legislation into a single text and sets out the principles governing the granting and use of sector specific incentives. 
2.30.  Moreover, since 1 January 2012 Cabo Verde has implemented the GATT valuation system 
(Article VII) for determining the customs value of imported goods. 
2.31.  With the exception of Cabo Verde's intentions in terms of privatization, which is 
experiencing some delay, the country's key comm itments under the WTO have been successfully 
implemented. 
2.32.  I cannot conclude these introductory remarks without drawing the participants' attention to 
the unique and specific characteristics of small developing island States, which face special 
development and competitiveness constraints. The small size of Cabo Verde's territory and its 
widely dispersed population stand in the way of economies of scale and entail high costs. 
2.33.  Owing to the small size of the country and it s widely dispersed population, there are few 
economies of scale, entailing high costs and heavy burdens. Like other developing island States, 
our country deserves and needs the kind of solidarity treatment without which development would be impossible. 
2.34.  This is particularly important to remember at a time when the WTO is engaged in deep 
discussion about the way forward with the Doha Development Agenda, in light of the forthcoming Ministerial Conference in Nairobi and beyond. Thank you for your attention. WT/TPR/M/322 • Cabo Verde 
 
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  3  STATEMENT BY THE DISCUSSANT 
3.1.  When I was asked by the Chair to act as a discussant for Cabo Verde's first Trade Policy 
Review, I was naturally honoured and immediately said yes. The TPR is a cornerstone of the WTO 
system and it is, of course, a special occasion when a country has its first TPR, it is almost like an 
initiation right. 
3.2.  But when I started to think about this a little more I became a little uncertain. What do I 
actually know about Cabo Verde? I don't speak Portuguese, I have never visited the country and 
my knowledge about Cabo Verde's economics was miniscule. 
3.3.  So I contacted the Swedish Embassy in Lisbon, which is also accredited to Cabo Verde, and 
asked about the Swedish relations with Cabo Verde. An d I think it is fair to say that we have good 
relations, but not very extensive. Sweden was an early supporter to Cabo Verde's fight for 
independence and we provided Government  aid between 1975 and 2010. Today we are 
cooperating in certain areas related to tourism and renewable energy sources, and I know the ambition from both sides is to deepen this c ooperation. In addition, roughly 10.000 Swedes visit 
Cabo Verde every year. 
3.4.  However, in terms of trade relations, they are very small. Swedish exports to Cabo Verde is 
about US$1 million a year, and the value of Swedish imports from Cabo Verde is just above 
US$100.000 a year. 
3.5.  As you can hear, the results of my research were  not very impressive. So I turned to what I 
actually know at least a little bit about: the music of Cabo Verde. Morna of course, one of the most 
expressive genres of music I know, even if I don't understand the language, but also the other 
varieties of music from the islands: Funaná, Batuque, Coladeira. 
3.6.  So when I was going to read the TPR reports from the WTO Secretariat and the Government 
of Cabo Verde, I picked out my old records wi th artists like Ildo Lobo, Lura, Mayra Andrade, 
Neuza, Tito Paris and, of course, the greatest of  them all: Cesária Évora. I even discovered a few 
new names like Elida Almeida that I liked a lot. This music accompanied my reading of the reports. I am not sure that it improved my knowledge about the economy of Cabo Verde, but it certainly 
improved my mood. It convinced me even more that I really have to find the opportunity to go 
there. 
3.7.  I have structured my comments today so that I will start with a short introduction and 
overview, a lot of which you will recognize fr om the previous reports we have heard. The 
disadvantage of being a discussant is that some of the points that I am going to make have 
already been raised. I will highlight a few areas of important reforms that Cabo Verde is currently engaged in, and finally, I will raise a few subjects th at I found to be of particular interest, and also 
try to identify a few questions which I think could be pertinent and perhaps can be returned to on 
Thursday on Cabo Verde's strategy in the future. 
Overview 
3.8.  I think it is important to start by stating a few obvious facts, but facts that are important to 
keep in mind during this process.  
3.9.  Cabo Verde is an island nation with very special conditions such as long distances to foreign 
markets (570 kilometres from the coast of West Africa), a relatively small population (around 
500 000 inhabitants) spread over a large area and with an economy that is vulnerable to natural 
disasters.  
3.10.  Therefore, it is notable that, despite these national disadvantages, Cabo Verde has had a 
remarkably good economic development during the last decade or so. It has pursued a policy 
developed towards pluralism, stability and transparency. This represents a good basis for continued reform efforts and a continue d favourable economic development. 
3.11.  It should, of course, be highlighted that th is is Cabo Verde's first TPR after WTO entry 
23 July 2008. Furthermore, since 1 January 2008, the country no longer has the status of LDC, but WT/TPR/M/322 • Cabo Verde 
 
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  is now a lower middle income developing country. The strong GDP growth between 1990 and 2013 
is remarkable, it is 7.7% as an average, and tourism has been the main engine of growth.  
3.12.  It has also weathered the economic crisis relatively well and is today a fairly open economy. 
Growth has dropped during the last couple of ye ars but, on the other hand, growth has dropped 
almost everywhere in the world and that is not surprising when you see the dependence of Cabo 
Verde's economy or its relationship with the European Union since economic recovery is still sluggish. I believe that it is in fact a testament to the stability of the country's economy that 
growth figures have not dropped more significantly.  
3.13.  In this context, it should not be forgotten that Cabo Verde's accession to the WTO, not least 
the accession process itself, has most likely contributed to the relative stability of the economy. Market openings, adaption to WTO rules, including necessary reforms that follow from such a 
process, have undoubtedly helped Cabo Verde to withstand the economic crisis relatively well.  
Current reforms 3.14.  In the report from the Secretariat, references are made to the IMF's conclusions on the 
future economic prospects of Cabo Verde, and I think it is relevant to highlight a few of them here. 
One of IMF's main conclusions is that Cabo Verde's long term growth will be dependent on internal structural reforms to improve performance in the public sector and the state-owned enterprises. 
Closely connected to this is the need to strengthen the private sector, especially when it comes to 
reforms of business environment, labour market, access to funding, education and training.  
3.15.  From both reports that we have before us today, it is clear that Cabo Verde is very much 
aware of the need for these reforms and that there are already programmes in place in several 
areas, for example on state and public administrati on. I would like to highlight a few of ongoing or 
completed reforms that I find are particularly interesting and are also a testament of the commitment by Cabo Verde to move forward in this area: 
 Significant reforms of the financial sector have been implemented to modernize the 
regulatory framework and to strengthen the institutional supervision. This has meant that there is a relatively large offshore banking sector. 
 Subsidies have been reduced in several areas. Most important to mention is probably the 
elimination of fuel subsidies. 
 Concepts like "Business in One Day" and "One Stop Shop for Investors" have been 
introduced to facilitate investment. A new in vestment law has been introduced. As a side 
note it should be mentioned that some WTO Members have found that some aspects of the 
Cabo Verde investment regime may not be  fully compliant with the WTO Subsidies 
Agreement. However, Cabo Verde has ag reed that this will be corrected. 
 In 2003, Cabo Verde introduced a law on non-automatic licensing on all imports and 
exports. This was criticized during the WTO accession process which led in 2005 to a new law under which non-automatic licensing applies to goods subject to SPS controls and 
security measures (e.g. arms and explosives). An automatic licensing regime is applicable 
for all other products, except those that are exempt from licensing requirements (goods of no commercial value, goods in transit, etc.).  Cabo Verde has agreed to ensure that the 
licensing regime is in full compliance with the WTO's license rules in the future. I hope that 
this will be implemented in full. 
 In the WTO accession process, a question was raised whether a fee for the customs 
clearance was in accordance with GATT Article VIII, which states that fees shall be 
equivalent to the cost of the service provided. Cabo Verde has committed to review its 
legislation. The issue is still under consideration. 
 In 2010, Cabo Verde introduced a new Customs law. The law stipulates that the transaction 
value shall be the principal method for calculating duty, but alternative methods are often 
used because of under-valuing and missing or inadequate documentation on actual transaction values. Cabo Verde informed the WTO in December 2010 that it had difficulties WT/TPR/M/322 • Cabo Verde 
 
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  in implementing the WTO Agreement on Customs Valuation which is an issue that will be 
further dealt within the future. 
3.16.  These are just some of the ongoing reforms. In some cases, Cabo Verde has met with some 
obstacles in implementing reforms but that is to be expected and it does not seem to have 
affected the country's commitment to continue this work.  
3.17.  Of course it would be interesting to hear more about the reforms that are planned in the 
future. This brings me to the next part of my presentation, where I want to highlight a few areas 
where I see that further information could be interesting and areas that I think that would be 
critical for Cabo Verde in the future. 
Questions and challenges Public companies 
3.18.  According to the Secretariat report, since the early 90's, Cabo Verde has 14 public 
companies and 15 para-public companies. These cont inue to be important players, especially when 
it comes to public services like energy, telecommunications and transport. The financial demands 
of some of these companies are significant. Th e economic performance of some companies has 
been poor, which has hampered efforts to privatize them. It is important to note that Cabo Verde 
has actually managed to significantly reduce the ro le of the State, but more needs to be done in 
this area.  
3.19.  Therefore, it would be interesting to know more about how Cabo Verde looks at the 
possibilities to implement measures to further reduce the role of Government, and reduce the cost of public companies in order to secure continued good economic growth. Which measures could be 
feasible? What actions are facing major difficulties and why? 
Tourism and diversification 3.20.  The tourism sector is of major importance for the Cabo Verdean economy. In 2014, the 
sector accounted for 43.9% of Cabo Verde's exports of goods and services. The country has a 
reform agenda which focuses on broadening the economic base with a focus on productivity-enhancing measures. The majority of the funds allocated to public investments are 
directed towards seven priority sectors: agricu lture, tourism, maritime economy (including 
fisheries), information and communications technology, creative industries (music and other cultural activities), financial services and air transport. 
3.21.  In this context, it could perhaps be stated that Cabo Verde's efforts to diversify its economy 
and to broaden their economic base are worthy of encouragement, not least because it largely 
applies to services sectors (i.e. sectors of the future) which will probably be the most promising way to future growth for Cabo Verde. In this context it is interesting to note that services, 
excluding public services, contribute almost half  of Cape Verde's GDP. This ambition is also 
reflected in Cabo Verde's substantial commitmen ts under the GATS Agreement during the WTO 
accession process. 
3.22.  But there might also be a concern that the priorities are somewhat broad. Seven sectors 
sounds like a small number, but we are talking ab out seven very large sectors. It might be 
necessary for a small country and a small economy like Cabo Verde to focus efforts even further. The question would be how the Government is thinking in terms of how the work on prioritizing, 
including of course the allocation of funds, could be done. 
3.23.  In this room, it is also pertinent to mention that it is of utmost importance that efforts to 
develop priority sectors refrain from actions that  are not in compliance with WTO rules. They can 
be about the rules of the Subsidies Agreement, bu t can also apply other rules. This is something 
that we have seen happen before, in bo th developed and developing countries. WT/TPR/M/322 • Cabo Verde 
 
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  Regional trade and ECOWAS 
3.24.  A n o t h e r  a r e a  I  w o u l d  l i k e  t o  f o c u s  o n  i s  r e g i o n a l  t r a d e  a n d  E C O W A S .  C a b o  V e r d e  i s  a  
member of the African Union and ECOWAS, and also  belongs to the group of Portuguese-speaking 
countries. It is noted that the ties to Europe are very important for the country's trade: 86.2% of 
Cabo Verdean exports goes to the EU and 82.9%  of imported goods come from the EU. The 
tourism industry is also dependent mainly on tourists from European countries. 
3.25.  However, the current trade with Africa in general and the ECOWAS members in particular is 
very small. Only 1.8% of imports come fr om ECOWAS. The number for exported goods to 
ECOWAS is not disclosed but it is likely to be ev en less. The report of the Secretariat noted that 
Cabo Verde's trade with its ECOWAS partners have largely been negligible. 
3.26.  As regards Cabo Verde's relation to ECOWAS we know that ECOWAS has since long had 
ambitions to establish a common customs tariff. This has not yet happened, but when it will occur 
Cabo Verde's simple average applied MFN tariff will increase from the current 10.3% to 12.3% according to the report. It should also be noted that ECOWAS's common customs tariff exceed 
Cabo Verde's bound tariffs on more than 500 tariff lines. Furthermore, Cabo Verde has other 
bound duties and fees under ECOWAS's levels. 
3.27.  In this context, I think it is of interest to highlight two questions. The first one is how Cabo 
Verde looks at the adaptation to ECOWAS's higher duties. One effect in the short term might be 
that the customs revenue increases. But there are also potential negative effects as much needed 
imports will become more expensive. There could also be compensation claims in this house since higher bound tariffs will have to be negotiated. 
3.28.  The second question relates to Cabo Verde's long term vision of its relationship with the 
ECOWAS community. It is not uncommon in Africa that local trade is relatively limited. But according to many studies and recommendations from organizations such as the IMF and the 
World Bank, there is also a great untapped potent ial here. Increased trade and investment flows 
between Cabo Verde and the rest of the ECOWAS members could assist Cabo Verde's efforts to 
diversify its economic base. Therefore, it would be interesting to hear more about Cabo Verde's 
strategic thinking in this area. 
Capacity constraints  3.29.  The final area I wanted to touch upon is the issue of capacity constraints. When reading 
Cabo Verde's own report for this Trade Policy Review, capacity constraints is a recurring theme. 
This is not unexpected from a small island nation  that just recently graduated from LDC status.  
3.30.  However, if there is one lesson that we have learned here in the WTO, it is that the 
advantages of trade do not come without accompan ying measures on a national level. It can be 
related to internal reforms, but also to more practical matters such as the capacity to analyse and 
identify interests and opportunities in order to be an effective negotiator here multilaterally in Geneva but also in bilateral negotiations. 
3.31.  The Diagnostic Trade Integration Study (DTIS) in 2013 recommended stronger Government 
participation in trade policy. This was also echoed in the Strategic Trade Development Plan (STDP) that was part of Cabo Verde's Tier 1 project within the EIF framework.  
3.32.  It is encouraging that Cabo Verde has taken this advice on board with the creation of a 
National Trade Council in June this year, which will be a permanent structure to formulate and 
coordinate the country's trade policy. 
3.33.  One major task for the National Trade Council will be to engage proactively in trade 
negotiations and devise strategies to take advantage of the potential they offer. There is clear 
evidence that Cabo Verde could take more advantage of not only its membership in ECOWAS that was mentioned above, but also in bilateral agreements such as the Economic Partnership 
Agreement with the EU and other FTAs. There could also be greater potential to make better use 
of preferential schemes such as AGOA and GSP+. WT/TPR/M/322 • Cabo Verde 
 
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  3.34.  In this context, implementation of the TFA should be an important step in this direction and 
it would be interesting to hear more about Cabo Verde's progress in this area. 
3.35.  Finally, Cabo Verde highlights in its report that different forms of technical assistance and 
Aid for Trade have been helpful in the country's wo rk on the trade policy field. But towards the end 
of the report, in paragraph 5.28, there is an appe al to the WTO that the Organization's technical 
assistance activities should be optimized to better serve the Organization's small developing Members with limited management and human resources.  
3.36.  As I am representing a large donor country to WTO trade related assistance, I find this 
comment very interesting and it would be valuable to hear Cabo Verde elaborate on this point, here or maybe at a later stage because it is of  huge importance that WTO programmes are helpful 
to all Members and all input that can help achieve that goal is important. 
Conclusion 
3.37.  In conclusion, I would like to thank the delegation from Cabo Verde. I think that this Trade 
Policy Review clearly shows that the country is on the right track. There is a vision and a 
commitment to continue with the necessary reforms in order to use trade as the very powerful 
means of development it can be. 
3.38.  There are certainly challenges, especially for a small island State like Cabo Verde, and we 
have heard about some of them today and I am sure some others will be mentioned during the 
session. But I believe that Cabo Ve rde is well prepared to deal with these challenges and I do think 
that its recent Membership to the WTO can assist in this process. WT/TPR/M/322 • Cabo Verde 
 
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  4  STATEMENTS BY MEMBERS 
EUROPEAN  UNION 
4.1.  Cabo Verde is an African success story, an example of democracy, stability and good 
governance. 
4.2.  Despite the lack of natural resources and its vulnerabilities as a small island State, Cabo 
Verde graduated from LDC to lower middle-income country status in January 2008. The EU acknowledges the steady progress made towards the achievement of its remaining Millennium 
Development Goals and commends Cabo Verde for having translated its remarkable economic 
growth into improved social conditions, allowing Cabo Verde to reduce poverty from 37% in 2000 to 25% in 2010.  
4.3.  Despite these positive aspects, the EU notes that the country still faces many challenges 
mainly due to its economic dependence on tourism (27% of GDP), low competiveness that requires 
economic reforms as well as the need to control its public debt (98% of GDP) and its fiscal deficit (7.75%).  
4.4.  In this respect, the EU appreciates the recent creation of a National Trade Council as a 
permanent structure for formulating and coordina ting the Trade Policy of Cabo Verde. The EU 
encourages Cabo Verde to take actions to diversify its economy and to improve its analytical 
capacity in the international trade arena, as suggested by the 2013 Diagnostic Trade Integration 
Study. 
4.5.  The EU congratulates Cabo Verde's efforts for the recent implementation of the Single 
Investor Window, establishing a single point of contact between investors and public 
administration. 
4.6.  Furthermore, the EU commends Cabo Verde for its efforts towards the acceptance of the 
Trade Facilitation Agreement and, in particular, the setting up of a Trade Facilitation Committee. 
The EU encourages the Government to notify its category A commitments and to complete the 
internal process necessary for the ratification of the Agreement as soon as possible. The EU remains ready to respond to Cabo Verde's needs fo r technical assistance for the implementation of 
the Trade Facilitation Agreement and calls on Cabo Verde to make its category C commitments 
known to facilitate the programming.  
4.7.  A word on our bilateral relationship. The EU has an excellent cooperation with Cabo Verde 
solidly based not only on the Cotonou Agreement but also in a comprehensive Special Partnership. 
The EU is by far Cabo Verde's main trading partner, with share of over 70% of its imports and 
83% of its exports. Portugal and Spain are Cabo Verde's most important trading partners in goods. Over 60% of Cabo Verde's exports are fishery products and 25% of textiles and clothing. The EU 
would like also to note the country's interest in tr ade in services as illustrated by their impressive 
commitments upon joining the WTO in July 2008.  
4.8.  The EU continues to be the biggest direct donor for development aid in Cabo Verde. In the 
11th European Development Fund, covering the period 2014-2020, an envelope of €55 million has 
been proposed for Cabo Verde aiming mainly at growth promotion and poverty alleviation.   
4.9.  The EU does not have specific concerns to raise here. We have submitted a handful of 
questions and we are particularly interested in receiving information on the latest state of play for 
the implementation of the ECOWAS Common External Tariff. 
4.10.  However, we would like to ma ke a general remark. In EU's view, while Cabo Verde is 
demonstrating sound improvements as regards the development of the legal foundations of its 
trade policy, more could be done with respect to the practical implementation of its existing 
legislation.  
4.11.  The EU remains committed to support the country's efforts to face socioeconomic challenges 
and is confident that this first review will help Cabo Verde in assessing its own policies so as to WT/TPR/M/322 • Cabo Verde 
 
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  ensure that they are most favourable for attaining its economic objectives while respecting its 
international commitments in this forum. 
UNITED  STATES 
4.12.  Our commercial relationship with Cabo Verde is limited, with merchandise trade turnover 
accounting for only about 1% of the total. However, while Cabo Verde's principal export markets 
are closer to home, our two countries enjoy a strong and growing commercial relationship. Cabo Verde has been a beneficiary of the U.S. trade preference programme for Sub-Saharan Africa – the 
African Growth and Opportunity Act – continuously since the programme began 15 years ago. And 
we interact with Cabo Verde both bilaterally and at the regional level, through its membership in the Economic Community of West African States, ECOWAS. 
4.13.  As a member of ECOWAS, Cabo Verde stands to benefit from efforts to break down barriers 
to intra-regional trade, and we applaud the efforts made over the last year to finalize the ECOWAS 
common external tariff. We look forward to receiv ing more information on how Cabo Verde expects 
ECOWAS institutions and cooperation to address its economic problems, e.g., in agriculture and 
industrial manufacturing. 
4.14.  While Cabo Verde is not among the larger African countries, it sets a positive example in 
many ways, including its history of political stability and democratic governance, its high ranking 
on anti-corruption indices, and its efforts over the past 10 years to pursue a market-orientated 
economic model that mainstreams international trade as part of its development strategy. We note the ambitious Strategic Trade Development Plan outl ined in the Government's report, and we look 
forward to its communication to WTO Members. 
4.15.  WTO accession has been a core element in Cabo Verde's efforts to further integrate with the 
global economy. The terms negotiated were confiden t and ambitious, particularly in light of Cabo 
Verde's vulnerable economic situation and, until just before its accession, status as a least 
developed country (LDC). Throughout the negotiat ions, Cabo Verde emphasized its intent to use 
the accession process to (a) support its domestic economic reform policies; (b) provide a better policy environment for increased investment; and (c) provide a better life for its people. Not "trade 
liberalization for its own sake", but rather a powerful tool to expand Cabo Verde's economic 
horizons. 
4.16.  It should be noted that Cabo Verde bound every tariff line and was the first LDC to accede 
to the WTO under Article XII that accepted the pr ovisions of the Information Technology (ITA) and 
Civil Aviation (CA) Agreements, taking its tariffs  on covered products to zero over extended 
transitions. Since accession, Cabo Verde has continued to revise and refine its legislative structure for trade and established a National Trade Council within the Government to formulate and 
coordinate its trade policy. 
4.17.  We have some concerns to note briefly today. Some of Cabo Verde's tariffs are applied at 
rates higher than the bindings in their Goods Schedule. We look forward to the promised 
amendment to the tariff that will deal with this issue. We note in certain cases connections 
between fiscal incentives and tariff exemptions on one hand and exportation on the other hand. Some of Cabo Verde's customs fees do not appear to be approximate to the cost of customs services. A separate tax on imported food, agricultural, and health-related products and not on 
similar domestic goods, funds Cabo Verde's Regulatory and Supervisory Agency for Pharmaceutical 
and Food Products (ARFA). We ask Cabo Verde to consider such issues carefully going forward, and we hope that the Trade Policy Review will help Cabo Verde address them. 
4.18.  In its Government report, Cabo Verde notes the challenges it faces in its participation in this 
Organization. The short term revenue and competitiveness impact of reducing its tariffs, sustaining preference erosion from other Members' tariff cuts, and eliminating discriminatory domestic 
measures, all of these present domestic challenges that may not, immediately, find compensation 
in the larger market and more abundant supply chains available through liberalization of the trade regime. For these reasons, we wish to lay particular emphasis today on our admiration of Cabo Verde for joining other Members in the difficult, ongoing work of aligning our trade regimes with 
WTO provisions going forward, something that challenges all of us every day. WT/TPR/M/322 • Cabo Verde 
 
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  4.19.  Overall, we give Cabo Verde high marks for its courage and persistence over the last seven 
years in working within the WTO system when protection is necessary, but in general pursuing an open trade and investment regime. We hope this trade policy review encourages a continuation of those policies. We have submitted questions and look forward to reviewing and discussing Cabo 
Verde's responses. 
CANADA 4.20.  On behalf of Canada, I join othe rs in welcoming the delegation from Cabo Verde to their first 
WTO Trade Policy Review. Canada does not currently have extensive commercial relations with 
Cabo Verde, but we want nonetheless to take the floor today to highlight and applaud the various reforms undertaken by Cabo Verde leading up to and following its WTO accession in 2008, and to emphasise the importance of continuing those reforms. 
4.21.  A review of the Secretariat report and the Government response reveals the scope of 
liberalization efforts pursued by the Government of Cabo Verde in many of sectors of its economy. The success of these reforms has been assured by  sound macro-economic management and good 
governance.  
4.22.  We note for example, that the country has already achieved improvements on Doing 
Business indicators due to increased internal and external competitiveness brought about by the 
transformation and modernization agenda. In th at context, we acknowledge the success in 
involving, in its modernization efforts, all stakeholders in the national economy, including public sector departments, municipalities, chambers of commerce, financial institutions and private economic actors. 
4.23.  Of course, like all WTO Members, Cabo Verde’s aim is to increase competitiveness and 
productivity, and further diversification and economic development. And also like many other WTO Members, achieving the goal of long-term growth depends on continuous improvements in the 
performance of the public sector and state-owned enterprises, and in particular in strengthening 
the private sector, including through further privatization. Improvements in these areas would attract a broader range of potential partners, including many firms and institutional investors from 
Canada and elsewhere. We invite and encourage Ca bo Verde to keep Members informed of further 
developments in these and other areas. 
4.24.  Although commercial relations with Canada are currently limited, there are always 
opportunities, particularly in skills training and certification related to aviation and tourism, for 
further business linkages. Cabo Verde’s maritime and Atlantic connections also make it an 
important potential regional partner for many WTO Members. 
4.25.  We therefore wish the delegation of Cabo Ve rde all success in this Trade Policy Review and 
in your ongoing reform efforts, and we will follow with interest your continued integration into the 
global trading system. 
BRAZIL 
4.26.  It is a matter of great satisfaction for Brazil to participate in the first Trade Policy Review of 
Cabo Verde. As a happy coincidence, the year of 2015 marks the 40
th anniversary of the 
establishment of our bilateral relations, after the independence of Cabo Verde in July 1975. Actually, the historical and cultural ties that unite our countries date way back in time, given our 
common Portuguese and African heritages, now re flected in our active participation in the 
Community of Portuguese Sp eaking Countries, the CPLP. 
4.27.  Brazil and Cabo Verde are strategic partners, and this reciprocal political priority is 
consolidated in a dense agenda. Bilateral ties include significant components of technical and 
educational cooperation, through a variety of programmes carried out in Cabo Verde by the 
Brazilian Cooperation Agency and thousands of Cabo-Verdean students pursuing college and 
post-grade degrees in Brazilian Universities. Capa c i t y  b u i l d i n g  p r o g r a m m e s  i n  f i e l d s  a s  c i v i l  
aviation, defense and banking system complete th e picture, and Brazil is pleased to note the 
recent inauguration of a new air route linking Praia to Recife, in North-eastern Brazil. Our Minister WT/TPR/M/322 • Cabo Verde 
 
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  for Foreign Affairs, Ambassador Mauro Vieira, just visited Praia this past September for political 
consultations and reiterated the commitment to an even closer partnership. 
4.28.  Since the accession to the WTO in 2008, Cabo Verde undertook great efforts to develop its 
institutional and legal framework. Reforms were undertaken to modernize the financial sector and 
to improve the business environment. Some initiatives are well worth mentioning: online business 
registration procedures, establishment of a si ngle window for investment, paperless customs 
clearance, and the ongoing consolidation of cu stoms, port, and trade information systems to 
establish a single window for international trade (the "JUCE"). 
4.29.  Despite the global financial crisis that led Cabo Verde into a mild recession, the country was 
able to graduate from least developed country status (LDC) in 2008, and is now classified as a lower-middle income developing economy, a feat th at deserves no small praise. Growth reignited 
during the past few years, due to higher tourism receipts and a public investment programme 
mostly financed from abroad. Welfare improved, and poverty is down, from 46% to 26% of the 
population. This results show the resilience of th e economy and a political perseverance that must 
be applauded. 
4.30.  Brazil also recognizes the Cabo Verde's efforts to reduce the budget deficit by adopting a tax 
reform that contemplates a severe cut in subsidies and the streamlining of the incentives regime. 
However, debt sustainability has become critical  as external debt now exceeds 100% of annual 
GDP, and leaves less room for public investment than in the past. 
4.31.  The sustained growth of Cabo Verde is associat ed with its regional integration. The country 
is well interconnected with others African States through an important net of trade and 
cooperation agreements, as the African Economic Community and the Economic Community of 
West African States (ECOWAS). 
4.32.  On the bilateral front, although Brazil ranks as the fifth largest exporter to Cabo Verde, the 
current bilateral trade is way below its potential and can be further expanded, both in terms of 
volume and diversification. It amounted to about US$21 million in 2014, a decrease of 11.2% in the last ten years. Exports from Brazil to Cabo Verde, still highly concentrated in primary products 
such as sugar, beef and cereals, fe ll by 22% in the last five years. 
4.33.  The positive note is that exports from Cabo Ve rde to Brazil have increased significantly, by 
72.1% in the period of 2005 to 2014. I note that exports consist almost entirely of manufactured goods, in particular electrical and mechanical machines. 
4.34.  Cabo Verde has significant economic potential and its "Third Growth and Poverty Reduction 
Strategy Paper" highlighted real investment and cooperation opportunities for Brazil, especially in tourism, agro-business and infrastructure. Brazil is ready to work with Cabo Verde in order to 
expand and diversify our bilateral trade and investme nt with a view to reaching its full potential. 
CHINA 4.35.  In 2008, Cabo Verde graduated from least developed country (LDC) status with an average 
growth rate of 7.7% between 1990 and 2013. As indicated by the IMF report in 2014, Cabo 
Verde's economic development had been underpi nned by sound macroeconomic management and 
good governance. 
4.36.  On the other hand, we have also taken note of the Cabo Verde's economic slowdown in 
recent years due to the global financial crisis, and observed that its economy was too much relied 
on a few sectors. 
4.37.  As specified both in the Secretariat and Cabo Verde's report, we believe that further 
economic reforms and trade and investment liberalization will help Cabo Verde to explore its full 
economic potentiality. 
4.38.  In this regard, China appreciates the efforts that Cabo Verde has made in reforming its 
investment regime, liberalizing its financial sector, and preparing to accede the WTO Trade WT/TPR/M/322 • Cabo Verde 
 
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  Facilitation Agreement. We encourage Cabo Verde to make further progress to streamline custom 
procedures, and facilitate the business start-ups for foreign invested enterprises. 
4.39.  On the bilateral side, the Sino-Cabo Verde c ooperation, although decreased due to the 
negative influence of the external economic enviro nment in recent years, is still promising. China 
is ready to cooperate closely with Cabo Verde to further enhance our bilateral cooperation. 
4.40.  Since its WTO accession in 2008, Cabo Verde firmly supports the multilateral trading 
system, and actively participates in the WTO activities and negotiations. At this critical juncture of 
the Doha Round, China is expecting to work with Cabo Verde and other Members to achieve a 
development-oriented and balanced successful conclusion of the DDA. 
ARGENTINA 4.41.  Argentina welcomes the delegation of Cabo Verde with best wishes for a successful trade 
policy review. 
4.42.  As our Ambassador to Cabo Verde stated at the time, Argentina is most interested to note 
Cabo Verde's development. 
4.43.  We are well aware of the difficulties involved in addressing the institutional reforms that 
Cabo Verde has been conducting for many year s in order to comply with WTO requirements. 
4.44.  We hope to continue working together to deep en our relations and intensify bilateral trade 
in order to promote our countries' development. 
4.45.  More specifically in light of the fisheries subsidies involving foreign ships, Argentina and 
Cabo Verde might cooperate more closely in the Doha Round negotiations. Also, the fact that similar issues arise in other African countries with large exclusive economic zones might prompt 
joint efforts with the African Group. 
INDIA 4.46.  We are pleased to note that the long-term GD P growth of Cabo Verde has averaged 7.7% 
during 1990 to 2013. The external economic situation, particularly in its main trading partners, led 
to some deceleration in growth, but the economy has picked up momentum, it grew by 2.7 % in 
2014. All in all, it is a positive growth story notwithstanding vulnerabilities and development 
challenges facing Cabo Verde as a small island State. The accession of Cabo Verde to the WTO in 
2008 required it to implement a series of commitments undertaken in the course of its accession negotiations including those relating to adapting policies and legislation to the WTO disciplines. India applauds the efforts made by Government in undertaking reforms to modernize its legal and 
regulatory framework in diverse areas to facilitate  trade and investments. In this regard, we fully 
recognize its need for enhanced technical assistance to strengthen its institutional capacity. 
4.47.  Despite the steady economic performance, Cabo Verde continues to face several challenges 
on the economic and the development fronts such as  the balance of payment, sustainability of its 
debt and diversification of the economy. The Government continues to meet the challenges arising from the ensuing process of adaptation to trade openness including the need to address the loss of 
Government revenue and enhancing competitiveness in the domestic market. The Government 
programme for the Eighth Term (2011-2016) lays out the vision for a dynamic, competitive and innovative economy, and identifies trade as one of the pillars of the Cabo Verdean economy. We wish the Government of Cabo Verde every succe ss in its reform process, meeting development 
challenges, achieving sustained economic growth and improving the well-being of its people.  
4.48.  At the bilateral level, India and Cabo Verde enjoy warm and friendly relations. Our trade 
with Cabo Verde, though modest, has been on a positive trajectory. India has been a close 
development partner of Cabo Verde and has undertaken capacity building, and technical assistance 
programs. We value our trade and development partnership with Cabo Verde and we look forward to expanding these linkages.   WT/TPR/M/322 • Cabo Verde 
 
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  TOGO 
4.49.  It is important to note that this is the first trade policy review of the Republic of Cabo Verde 
since its accession to the World Trade Organization in July 2008. My delegation is pleased that in agreeing to undergo this exercise, Cabo Verde is meeting its obligations and demonstrating its 
commitment to the principle of transparency th at the trade policy review process ensures. 
4.50.  Taking the year 2008 as a benchmark, we note from the WTO Secretariat report that 
Cabo Verde's economy is doing fairly well, with long-term growth of real GDP averaging 7.7%, 
driven mainly by tourism. 
4.51.  This positive performance is also due to a large-scale externally financed public investment 
programme which has helped Cabo Verde overcome the global financial crisis. 
4.52.  The IMF expects further growth in Cabo Verde this year, based on economic recovery in 
Europe, increased tourism and foreign direct investment and lower oil prices. 
4.53.  According to the Secretariat report, however, Cabo Verde should tackle its growing debt, 
which now exceeds 100% of annual GDP. 
4.54.  The most striking achievement is, of course, the country's graduation from least developed 
country status on 1 January 2008. This qualitative leap forward is to be commended, as Cabo Verde has now joined the enviable ranks of middle-income countries. 
4.55.  This amply demonstrates that LDC status is no t inevitable and that the situation of these 
countries can be improved by using trade as a tool for poverty reduction. 
4.56.  Togo is very keen to take part in the trade policy review of Cabo Verde, with which it shares 
interests within the broad sub-regional system of  the Economic Community of West African States 
(ECOWAS), established on 28 May 1975 with the key aim of promoting cooperation and 
integration, in order to create an economic and monetary union conducive to development in all economic areas. 
4.57.  This comprehensive framework is nothing short of one of the most successful examples of 
integration in Africa, where countries have a tendency to come together in groupings imposed by the requirements of economic development. 
4.58.  This is why Togo attaches such vast importance to Cabo Verde's trade policy. 
4.59.  Despite the opportunities that integration offers, it must be acknowledged that trade 
relations between Cabo Verde and Togo remain we ak. This is evidenced by ECOWAS statistics on 
trade between member countries. 
4.60.  Togo therefore hopes that the two countries w ill achieve greater integration based on free 
trade, the free movement of persons, the right of residence and establishment, and the free movement of capital by increasing their trade in order to boost development in all economic 
sectors, particularly in industry, telecommunicati ons, transport, energy, agriculture, and natural 
resources, to name but a few. 
4.61.  My delegation believes that the ECOWAS member countries are capable of making full use 
of economic integration. 
4.62.  Togo welcomes the new Common External Tariff (CET) adopted by the 15 member States, 
including Cabo Verde, which came into effect on 1 January 2015. My delegation regards this as an important step forward on the difficult road to integration. 
4.63.  My delegation appreciates the sacrifice made by Cabo Verde in the interests of integration 
by agreeing to a CET lower than its bound tariffs, and assures the country of its full support when Cabo Verde starts renegotiating its tariff bindings over the next three-year period. WT/TPR/M/322 • Cabo Verde 
 
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  4.64.  Since the ECOWAS Commission has opted for a concerted approach to the renegotiation 
process, Togo stands ready to cooperate with the countries concerned even though Togo itself is 
not involved. 
4.65.  To conclude, Togo encourages Cabo Verde in its efforts to implement the international trade 
liberalization measures adopted and wishes it every success in this review. 
THE SEPARATE  CUSTOMS  TERRITORY  OF TAIWAN,  PENGHU,  KINMEN  AND  MATSU 
4.66.  It is evident that substantial efforts and reforms have been made by the Government of 
Cabo Verde since it acceded to the WTO in 2008. We are also pleased to note that these efforts 
appear to have resulted in its trade regime becoming more outward-oriented, and more in conformity with WTO rules. In acknowledging the challenges faced by Cabo Verde as a small resource-based economy, we heartily applaud the continuing efforts at trade-opening and its 
economic performance. 
4.67.  We are seeing that Cabo Verde continued the efforts to liberalize and facilitate trade such as 
adopting a new framework law governing phytosanitary and veterinary measures in 2013, 
introducing a new investment law in 2012, as well as a Customs Code in 2010. Besides, Cabo 
Verde has undertaken significant reforms in the financial sector. We support Cabo Verde's commitment of its further liberalization and pu rsuing for sustainability. However, we also 
encourage Cabo Verde to improve some areas such as SPS and import licensing regime. 
4.68.  Cabo Verde is a founding Member of the Africa n Union. For small-size economies, perhaps 
the most obvious cure for the economic growth is regional integration. We encourage the Government of Cabo Verde further diversify their trade activities and expand trade with regional 
partners, especially within the Economic Co mmunity of West African States (ECOWAS). 
4.69.  On the bilateral front, the trade flow and economic cooperation between us may not be so 
significant, our Government is open-minded and lo oking forward to any possible cooperation in the 
future, especially under the framework of the Aid-Fo r-Trade scheme, as well as in others fields of 
the WTO. 
ANGOLA 
4.70.  The Republic of Angola commends Cabo Verde for presenting the first review of its trade 
policies, which it is following closely and with keen interest. 
4.71.  Cooperation between Angola and Cabo Verde is excellent and most fruitful in several areas 
in which they share a common past, notably trade. 
4.72.  D u r i n g  t h e  r e c e n t  o f f i c i a l  v i s i t  t o  A n g o l a  o f  C a b o  V e r d e ' s  P r i m e  M i n i s t e r ,  
H.E. José Maria Neves, in July 2014, the two countries signed a series of trade and investment promotion agreements, in particular a bilateral agreement for the promotion of relations between 
Angolan and Cabo Verdean private operators and entrepreneurs and an agreement on the 
protection of investments, signed between the National Private Investment Agency (ANIP) and 
Cabo Verde Investimentos. 
4.73.  We hope that this will enable entrepreneurs in the two countries to invest mutually in other 
sectors and thus ensure complementarity between two developing economies. 
4.74.  Angola commends Cabo Verde for strictly observing and complying with the WTO standards, 
principles and rules aimed at establishing a fair multilateral trading system. 
4.75.  Although Cabo Verde is at a disadvantage because of its geophysical conditions, the country 
has maintained its sound macroeconomic performance over recent years, thanks to ongoing infrastructure projects and efficient public expenditure management, all of which led to long-term 
growth of real GDP averaging 7.7% per year between 1990 and 2013. WT/TPR/M/322 • Cabo Verde 
 
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  4.76.  The Cabo Verdean economy is largely dominated by the services sector, driven by tourism, 
which alone accounts for 72% of GDP, while the secondary and primary sectors respectively contribute 18% and around 10%. 
4.77.  Tourism offers promising prospects and is seeing considerable investment in port and hotel 
facilities in particular, which we encourage. Imports, exports, transport and telecommunications 
make up the bulk of the services sector. 
4.78.  As a result of this good economic performance, Cabo Verde graduated from 
least-developed-country status in January 2008 and is now classified as a middle-income 
economy. 
4.79.  We encourage Cabo Verde to carry out its investment programme, based on a policy 
framework that aims to create a dynamic and co mpetitive economy in the near future. On the 
one hand, this will gradually integrate Cabo Ve rdean trade into the multilateral trading system 
and, on the other, it will ensure sustainable growth to reduce poverty. 
4.80.  My delegation endorses the Government's strategy to promote Cabo Verde as a hub 
between Africa, Europe and the Americas, in view of the key role that its geographic location 
enables it to play. 
4.81.  Angola regards Cabo Verde as a key partner in its plan to establish an international logistics 
and services platform in the West Africa region. 
4.82.  Turning to the agricultural sector, Angola support s the revival of the "Ilha Verde" project. It 
is convinced that the expected economic spin-offs in terms of economic diversification will include value added to raw materials, job creation and many other benefits. 
JAPAN 
4.83.  It is a pleasure for Japan to take part in the first TPR of Cabo Verde. Despite its 
disadvantages such as a lack of natural resources,  geographical remoteness from foreign markets, 
and a small population, Cabo Verde has shown remarkable economic growth since the early 1990s, 
primarily driven by its tourism industry. Japan po sitively evaluates the continuous efforts of the 
Government of Cabo Verde to  liberalize its economy. 
4.84.  Cabo Verde's robust economic growth enabled it to advance from LDC status to middle 
income country status in 2008. However, lately the Cabo Verdean economy has shown signs of slowing down. This downturn makes Japan wonder if Cabo Verde is perhaps suffering from the 
so-called "Middle Income Country Trap". Japan recognizes that it is important to implement 
various economic reforms, such as diversifying  the economy, promoting exports and expanding 
the middle income bracket. In this regard, Japan commends the fact that Cabo Verde has been implementing its economic reform plans, namely "the third Growth and Poverty Reduction Strategy 
Paper" and its economic transformation agenda, which prioritize poverty alleviation programmes, 
agribusiness, and the fishing industry. 
4.85.  With respect to the RTA, the Secretariat mentioned that Cabo Verde, as a member of 
ECOWAS, has successfully concluded the EPA with the European Union, and that the 
implementation process is now under way. Japan commends Cabo Verde's efforts to further trade liberalization, and hopes that this EPA will both complement and contribute to strengthening the multilateral trading system. 
4.86.  Before concluding, please allow me to make  some brief comments on the relationship 
between Cabo Verde and Japan. We all know that Japan and Cabo Verde are located very far apart f r o m  e a c h  o t h e r .  H o w e v e r ,  J a p a n  f i n d s  s i m i l a r i t i e s  b e t w e e n  b o t h  n a t i o n s ,  m a i n l y  f r o m  a  
geographical point of view. Both countries are archipelago nations situated alongside a continent. 
Also, both nations have several volcanoes within their territory and are relatively vulnerable to natural disasters. Neither Japan nor Cabo Verde has abundant natural resources, and consequently 
we have to manage our economies without relying on natural resources. Japan knows the amount 
o f  t r a d e  b e t w e e n  u s  i s  v e r y  s m a l l .  H o w e v e r ,  J a p a n  b e l i e v e s  t h a t  w e  c a n  d e e p e n  m u t u a l  WT/TPR/M/322 • Cabo Verde 
 
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  understanding resulting from geographical similari ties and, based on that, develop a cooperative 
relationship in the future. 
DEMOCRATIC  REPUBLIC  OF THE CONGO 
4.87.  Seven years ago, the Republic of Cabo Verde graduated from least-developed-country 
status and joined the (fortunately non-exclusive) club of lower-middle income countries. In the 
same year it became a full WT O Member after completing all the requisite accession procedures. 
4.88.  In order to achieve this, the country had to carry out in-depth reforms in all areas of 
activity. This was to be expected since Cabo Verde, which belongs the Group of African, Caribbean 
and Pacific States, directly implemented a provis ion of the ACP-EU Cotonou Partnership Agreement 
set out in Article 9.3, paragraph 2, which stipulates that good governance, on which the ACP-EU partnership is based, underpins the domest ic and international policies of the Parties and 
constitutes a fundamental element of the Agreement. 
4.89.  It is admirable to note that Cabo Verde's implementation of good governance practices has 
led the country to graduate from LDC status, which was hardly conducive to attracting investment. 
Despite many constraints such as the country's isolation, the small size of its territory and a 
limited domestic market, coupled with vulnerability to a whole range of shocks, Cabo Verde has maintained a stable economy, emerging relative ly unscathed after growth slowed down in the 
wake of the severe financial crisis that affected most countries in the world, especially 
Cabo Verde's key trading partners from the Eurozone. 
4.90.  As noted in the Government report and highlighted by H.E. the Ambassador of Sweden, the 
reforms implemented so far, including the economic liberalization process, and the current reforms 
aimed at expanding the economic base will unquestionably give a further boost to the economy. 
4.91.  We also note that public services account for 50% of GDP. 
4.92.  Given Cabo Verde's capacity constraints, the Enhanced Integrated Framework's Diagnostic 
Trade Integration Study recommends that the State strengthen trade and investment institutions. 
4.93.  Before concluding, I would like to commend the Cape Verdean Government for its vision and 
engagement in pursuing the reforms. As noted in the report, it has made sustained efforts to 
innovate and use new technologies in public administration, thus enhancing the business 
environment. 
4.94.  The delegation of the Democratic Republic of the Congo wishes the Republic of Cabo Verde a 
successful conclusion to its first trade policy review and a bright future for its people. 
MOZAMBIQUE 
4.95.  Mozambique and Cabo Verde share a common past and are linked by historical and cultural 
ties 
4.96.  We wish to register our appreciation to the great efforts made by the Government of Cabo 
Verde, which, in 2008, enabled the country to graduate to a Lower Middle level income economy Country. 
4.97.  Notwithstanding being a resource–poor country, it is very much encouraging to see the 
tremendous efforts made by Cabo Verde through adoption of reforms that aim at broadening the economic basis envisaging diversification and progress in the different economic and social areas. 
4.98.  Mozambique notes with satisfaction that among others, the 2030 Vision was adopted as a 
transformative agenda and, the 2011–2016 Programme was adopted bearing in mind a vision for 
more inclusiveness, justice and prosperity, envisa ging the creation of opportunities for all, via 
strategic objectives, construction of an innovative, competitive and dynamic economy. 
4.99.  Additionally, it intends to promote the private sector growth, business environment, 
investment and productivity of the strategic potential sectors. WT/TPR/M/322 • Cabo Verde 
 
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  4.100.  The paper on the Strategies for Growth and Poverty Reduction emphasises the need to 
maintain macroeconomic stability, public fi nancial management, sound business governance, 
quality infrastructure improvement and strong reduction of unemployment and poverty, was designed, mindful that all these elements would be  undertaken in the context of efforts to bring 
answers to economic and social structural weaknesses.  
4.101.  Mozambique highly commends the country’s initiatives to put in place trade laws that are 
compatible with the evolving trading system, nota bly through the development of a wide range of 
regulations in different fields, including investment , education, and training, just to mention a few. 
As encouraging signs out of the implementation of different strategies, if maintained, these may help accelerate the process of economic recovery and development. 
4.102.  Although a small country, and facing different challenges and economic fragilities, Cabo 
Verde is a strong, courageous and highly dete rmined country which, despite the economic 
slowdowns experienced, if provided with multip le assistance, can succeed in implementing the 
different policies, strategies and programmes, and, gradually, or even in a speedy manner, 
accelerate the economic development, and thus, take more advantage in participating in the global 
trading system. 
4.103.  In the various programmes, strategies mentioned in the Government report, great 
relevance is placed to the need of development of different sectors, such as infrastructure, 
agriculture, services, industry, tourism, teleco mmunication, intellectual property area, energy, 
industry, and other areas.  
4.104.  We see numerous opportunities for investment, and we call upon developed and 
developing Member partners, the private sector, investors, partners and other interested entities, 
to direct their resources and provide technical assistance and invest in Cabo Verde in order to promote growth and prosperity. The WTO and othe r international organizations and agencies can 
also play a crucial role in this regard. 
4.105.  We highly encourage the country to continue with polices that further its involvement in 
various development initiatives, harness the wealth  of the existing natural resources, and boost 
economic activities, and those actions that are likely to contribute to the attainment of the right 
aspirations of becoming an active player in the global trading system. All this aims to target poverty reduction, as one of the most important government priorities in the framework of the attainment of the development goals.  
BARBADOS 
4.106.  My delegation commends Cabo Verde on a strong economic performance over the long 
term 1990–2013 which enabled the country to graduate from LDC status to a lower-middle income 
economy in 2008 owing to the global economic downtu rn. The Secretariat report reflects that as a 
result of the global financial crisis, the country entered into a relatively mild recession with GDP growth contracting by 1.3% before the country returned to modest growth of 1.5% in 2010. 
Growth was due in part to increased tourism receipts and a public investment programme which 
was mainly externally financed. 
4.107.  Cabo Verde, a small vulnerable economy (SVE) completed its accession process to the 
WTO in 2008, the same year the country graduate d from least developed country (LDC) status. As 
part of its accession process, the country under took extensive levels of commitments across the 
various negotiating areas, including agriculture, NAMA and services. It is reported that that the country completed its accession process as an LDC and so had been given transition periods to 
implement provisions of the WTO, the last  of which is set to expire in 2018.  
4.108.  Notwithstanding their level of commitments, Cabo Verde remains committed to the 
multilateral trading system and to the Doha Development Agenda. This is evidenced through its 
participation in the African, Caribbean and Pacific (ACP) Group of States and is a valuable partner 
to Barbados as we seek to deliver on a meaningful development oriented outcome on the DDA at the 10th Ministerial Conference in December. The country is also seeking to at the regional level advance its socio-economic development. This has been seen through its participation in the 
regional integration union of ECOWAS. However, as it seeks to meaningfully participate in the WT/TPR/M/322 • Cabo Verde 
 
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  union, it has been challenged with the implementation of the Common External Tariff (CET) as the 
CET exceeds the country’s WTO bindings in more than 500 tariff lines.  
4.109.  It is imperative that small economies be allowed the flexibility to commit to trade 
liberalisation and formulate trade policies in accordance with their developmental needs. In this 
context, my delegation looks forward to continue working with Members to ensure that progress in 
the Work Programme on Small Economies is accelerated in line with the decision adopted at the Hong Kong Ministerial Conference. Such flexibilities will help small economies to continue to 
successfully pursue their trade liberalization, economic reform and developmental objectives. 
Barbados wishes Cabo Verde well in their implementation of these. 
4.110.  My delegation maintains that flexibilities should to be afforded to acceding LDCs and SVEs. 
Acceding LDCs and SVEs should only theref ore be required to undertake commitments 
commensurate with their level of development. Due regard and appropriate consideration should 
therefore be given to the specific characteristics and vulnerabilities of acceding SVEs.   
4.111.  Cabo Verde is a typical small vulnerable economy (SVE) characterized by its limited 
economic base, remoteness to international markets, diseconomies of scale, susceptibility to 
natural disasters and vulnerability to external shocks. Many of these have a direct impact on trade. We are impressed by the reforms which Cabo Verde has made. We recognize the efforts at 
achieving economic stability and structural transf ormation and the important emphasis placed on 
investment and accelerated development. We also commend Cabo Verde on the tremendous efforts it has made to expand its economic base in particular through its Public Investment Programme aimed at reforming the public sector an d the business environment. The efforts of this 
Small State in a wide range of areas are commendable. WT/TPR/M/322 • Cabo Verde 
 
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  5  REPLIES BY THE REPRESENTATIVE OF CABO VERDE AND ADDITIONAL COMMENTS 
5.1.  The Cabo Verdean Government's vision and agenda are to turn the country into a services 
hub between Africa, Europe and the Americas and their markets. The country has thus invested 
heavily in port and airport logistics, communications infrastructure, and in adjusting its 
institutional and regulatory framework. 
5.2.  The 2011-2016 Government Programme elected the trade sector as one of the pillars of the 
Cabo Verdean economy's growth and competitiveness, with the aim of: (a) fighting poverty; 
(b) promoting sustainable development through the promotion of national production and product 
quality; and (c) improving the business environment. 
5.3.  In Area IV (Private Sector Enhancement) of the third Growth and Poverty Reduction Strategy 
Paper (GPRSP III) 2012-2016, the Government anticipated "a pragmatic approach that 
emphasizes business opportunities, value chains an d concrete measures that are implementable, 
to facilitate trade, boost production and quality, and foster new business opportunities". 
5.4.  According to the GPRSP III and the economic  transformation agenda, the Government 
intends to focus development activities on areas where comparative and competitive advantages 
have been identified - the competitiveness clusters, corresponding to the economic activity sectors likely to have the greatest impact on growth and poverty reduction. 
Reforms and investment incentives 
5.5.  As I said in my introductory statement on the first day of this review, Cabo Verde's 
WTO commitments essentially relate to the review /adjustment of the regulatory framework. We 
highlight the adoption and implementation of th e new Customs Code and implementation of the 
GATT valuation system (Article VII). 
5.6.  Led by the Minister of State Reform, namely th e Prime Minister himself, the Cabinet approved 
the "change to compete" programme and its three main thrusts, which are (a) optimizing 
structures; (b) modernizing and simplifying public  administration; and (c) enhancing the business 
environment. The business environment improvement component consists of five pillars, the most prominent being (a) economic development; (b) regulation and supervision; and (c) improving 
public administration. 
5.7.  Another point worthy of mention on the subject of reform and investment promotion is the 
fact that a business can be established in one day at Citizens Houses all over the country, and the same procedures and rules apply to Cabo Verdeans and foreigners alike. A company can be set up 
within 24 hours and the business person receives a full set of registration documents. 
5.8.  Cabo Verde Investimentos (CI) is the national  agency providing the electronic platform 
known as the single window for investors for the promotion and monitoring of investments in 
Cabo Verde. This platform increases the effectiven ess and efficiency of the investment process by 
enhancing communication and understanding between the CI, its customers and other operators, public and private entities and the promoters of  Cabo Verdean and foreign investment projects. 
The single window thus brings together on a single site all the services required for project 
approval, which used to be spread over several institutions. 
5.9.  Investment in technically and economically feas ible projects that afford access to foreign 
markets in key sectors of the domestic economy and generate at least three jobs is covered by the 
Tax Benefits Code. The incentives are granted pursuant to an agreement with the Cabo Verdean 
authorities, which is valid for three to five years. 
5.10.  The Tax Benefits Code provides incentives for economic operators to invest in the country, 
irrespective of the sector or the amount of the investment. The investor receives a tax credit in the 
order of 50% or 30% on the purchase of tangib le assets and on patents and licences to use 
technologies certified by the relevant authority, which can be deducted from income (corporate) 
tax for a period of ten years. This is an automatic tax concession stipulated on the taxpayer's tax 
return form. WT/TPR/M/322 • Cabo Verde 
 
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  5.11.  Investments provided for under the Code are exempt from customs and stamp duty and 
receive tax relief for each job created. 
5.12.  In the case of investment for export, the investor is eligible for tax reduction at a rate 
ranging from 12.5% to 3.75% depending on the location of the company's headquarters and 
volume of business. 
5.13.  When the investment exceeds CVEsc 10 billion  (around €90 million), the investor may be 
granted exceptional incentives that may take the form of exemption from corporate income tax for 
a period of ten years, in addition to exemption fr om duty on imports of tangible assets, the single 
tax on assets and stamp duty. 
5.14.  Stamp duty, revised in 2008 following Cabo Verde's accession to the WTO, is currently 
collected on financial and corporate operations and documented legal acts. It ceased to apply to 
equity transfers as of January 2015. 
5.15.  Thanks to the updating of legislation between  2011 and 2013 and the introduction of the 
new Investment Code providing for new investor status, Cabo Verde's legal framework has already 
been brought into line with the multilateral WTO Agreements. The minimum capital requirement 
for engaging in import activities and wholesal e and retail sale has been abolished; the prior 
authorization requirement has been revoked; and the possibility of a posteriori  inspection has been 
introduced by setting a single rate for importers and exporters engaged in wholesale trade, thus 
simplifying licensing procedures. 
5.16.  There is appropriate oversight and regulation of the financial sector, which has posted 
positive performance in recent years. However, it is not yet as competitive as we would like it to 
be, first of all because two banks control around 70% of the credit market and also because the 
sector is heavily concentrated, with an overla pping of ownership and management in banking 
establishments. 
5.17.  Cabo Verde's banking system is not fully integrated in the global financial system and is 
therefore less exposed to market fluctuations. The main source of risk is at domestic level in the form of credit risk in the banking sector. The imme diate risk lies in the health of the construction 
and real estate sectors, which account for a significant portion of the banks' loan portfolios. 
5.18.  The long-term vision for the sector is to turn Cabo Verde into a competitive financial centre. 
In the short and medium term, the goal is to enha nce the structure, efficiency and security of the 
financial system in order to position the country as a secure and rapidly expanding financial 
market. The emphasis is on policies and actions regarding the country's monetary stance and 
banking, while addressing the challenges of developing the capital market. 
Regional integration 
5.19.  Cabo Verde's economy is closely tied to the Eurozone, which is home to the country's main 
partners in the areas of investment, tourism, fore ign trade and foreign aid. Cabo Verde also has a 
monetary cooperation agreement with the Eurozone underpinning its macroeconomic stability, 
monetary credibility and inflation policies, as well as foreign trade operations; it therefore intends 
to keep its currency pegged to the euro. 
5.20.  West African regional integration is a key strategic choice of Cabo Verdean government 
economic policy, despite weak complementarity at this time among the economies concerned and 
the numerous and complex barriers that still impede the free movement of goods and capital 
among the ECOWAS member States. 
5.21.  The sub-regional market is essential if Cabo Verde is to expand the scope of its economy in 
such a way as to make it attractive for certain regional market-targeted industry and services 
niches in particular; the establishment of logist ics platforms for merchandise trade and the supply 
of international services in the region is equally critical. 
5.22.  ECOWAS is gaining importance as an instrument for promoting private investment, 
expanding complementary markets and increasing economic development, and offers considerable WT/TPR/M/322 • Cabo Verde 
 
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  potential for the economies of the sub-region, especially for a country such as Cabo Verde, which 
has vast potential for developing services. If the po sitive trends in the regional integration process 
are confirmed, Cabo Verde will be able to share its institutional experiences, internationalize its enterprises and trade in services, chiefly in areas such as ICT and electronic governance, 
renewable energy, creative economy development, transport and tourism. 
5.23.  Structural reforms have been stepped up within the ECOWAS Commission in recent years, 
as has the engagement of the member States in good governance practices and the harmonization 
of economic policies, the implementation of jo int infrastructure projects, protection of the 
environment, electronic governance and investment in renewable energy, all of which will foster greater economic integration and the movement of persons, capital and goods across the region. 
5.24.  Some of the Members attending this review meeting have raised questions concerning the 
process of implementation of the ECOWAS Common External Tariff (CET) in our country. In order 
implement the CET, for the time being Cabo Verde has to rely on the English-language version of the regulations pertaining to tariffs, customs valuation, anti-dumping, safeguards, compensation, 
inputs, and additional protection measures. 
5.25.  The CET has been approved at regional level by the ECOWAS Council of Ministers but has 
not yet been ratified by all the member countries, including Cabo Verde, which is awaiting official 
publication of the CET manuals in Portuguese. 
5.26.  Nonetheless, an inter-institutional committee on the CET has already been established. 
Preliminary work is under way so that once the CET has been approved and ratified by the Government and Parliament, implementation can be gin. The Government of Cabo Verde is aware 
of the implications of the entry into effect of the CET in respect of its WTO commitments, and 
measures are being taken to remedy the situation. 
5.27.  Cabo Verde expects implementation of the CET (customs union) to create opportunities for 
increased participation in regional trade and positioning the country as a platform for trade 
between ECOWAS, the European Union and the Americas (NAFTA, MERCOSUR). 
5.28.  Moreover, the Special Partnership Agreement (EPA) negotiated and signed between 
ECOWAS and the European Union is a potentially important instrument for the promotion of 
cooperation in the areas of investment, trade in goods and services, and market access. 
5.29.  In this connection, Cabo Verde considers it important that the current negotiations should 
be concluded with satisfactory outcomes on rules of origin, the non-execution clause, the 
most-favoured-nation clause, and other regional integration-related issues, and that negotiations 
should commence on services, a topic of particular and strategic interest to our country. 
5.30.  The Government of Cabo Verde expects funding under the EPA Development Programme 
(EPADP) to support the process in which our country is engaged to build up institutional capacity 
and strengthen the supply-side capacity of its produc tion sector, so that it is possible to realize the 
potential and achieve the regional integration targets sought by the EPA. 
Trade facilitation 
5.31.  As regards trade facilitation, the National Trade Council was officially established last 
September pursuant to a government resolution, and a Trade Facilitation Committee (CFC) is already in operation within the Council. The Go vernment intends to notify its Category A 
commitments before the 10
th WTO Ministerial Conference. 
5.32.  Cabo Verde's customs administration began implementing the ASYCUDA World automated 
system last September, thus computerizing the whole customs declaration process; this obviates 
the need to submit the declaration and accompanying documents in hard copy and produces 
significant gains in terms of time and cost. It is continuing to streamline human and material resources, increase the accessibility of informat ion and enhance the transparency of the process. 
5.33.  ASYCUDA World interconnects all the services involved in customs clearance. Some of its 
components have already been implemented, such as the electronic system of licensing/approval WT/TPR/M/322 • Cabo Verde 
 
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  of imports and exports (TEC), the bank treasury system, as well as ongoing development of other 
integration projects, including the Port Management Information System (JUP) used by the National Port Administration Company (ENAPOR)  and the single window for investors (BUI). 
5.34.  Since the Board of Trade involves a number of  State services, the General Directorate of 
Customs and the General Directorate of Industry and Trade are jointly setting up a single window 
for trade, under the institutional coordination of the National Trade Council. 
5.35.  In view of the recent extension of the AGOA for a further ten years, the Government is 
determined to redefine its strategy in respect of this legislation. The AGOA resource centre will 
form part of an export industry support networ k managed by the Ministry responsible for trade, 
industry and export promotion and the chambers of commerce. 
Intellectual property 
5.36.  As part of the reform of public administration, the Government created the Institute of 
Quality Management and Intellectual Property (IGQPI) by merging the Institute of Quality Management and the Intellectual Property Institute of Cabo Verde, and transferring to the IGQPI 
all the duties, rights and obligations conferred by law or regulation on these former institutes. 
5.37.  The IGQPI is also responsible for the registra tion and protection of copyright, while the 
recently created Copyright Bureau and Cape Verd ean Authors Society respectively deal with the 
collection and distribution of royalties. 
5.38.  One of the challenges as of 2016 will be to initiate the procedures for joining the 
International Patent System (IPS) of the World Intellectual Property Organization (WIPO). A seminar on the IPS will be organized together with WIPO in November of this year to explain to 
the national authorities and make them aware of the role and importance of the IPS in 
encouraging capacity for invention and innovation. 
5.39.  The Government takes a favourable view of the prospect, from 2016 onwards, of joining the 
regional organizations responsible for monitoring the intellectual property treaties and 
conventions, the Paris Convention and the Patent Cooperation Treaty, so as to provide the country 
with more tools and ensure significant progress in this area. 
5.40.  Cabo Verde has made considerable progress in implementing the SPS Agreement, especially 
by bringing national legislation into line with the relevant international trade instruments, as well as the International Plant Protection Convention, the World Organisation for Animal Health, and the Codex Alimentarius. 
5.41.  Cabo Verde's phytosanitary instruments have al most all been completed; the new law and a 
series of implementing regulations have already been approved and published. As has been done 
in the plant and animal health sectors, the Ba sic Law (Law No. 30 of August 2013) has been 
adopted and published, and its implementi ng regulations are under preparation. 
Agriculture 5.42.  As regards the development of agro-industry and the agribusiness improvement and 
agricultural product line development component of the Growth and Poverty Reduction Strategy 
Paper (DECRPIII in Portuguese), several lines of agricultural products have been selected as 
conducive to boosting sectoral and value chain development and cover all aspects from pre-production, production, post-production and processing to marketing and connection to end 
markets. 
5.43.  Key achievements in this regard include value chain studies in priority sectors, the 
promotion of processed products and investment in the transfer of know-how within the sector. 
Such activities are part of the challenge of prov iding training for technicians, rural stakeholders 
and agricultural producers. 
5.44.  In addition to actions undertaken to modern ize agriculture by introducing new production 
technologies and creating value added agricultural products, increased efforts have been made to WT/TPR/M/322 • Cabo Verde 
 
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  promote farmer organizations and/or cooperatives and encourage the private sector to invest in 
agriculture, in particular by setting up new po st-harvest processing centres and establishing 
processing industries. 
5.45.  It should be noted that the strategic agenda for rural extension is under preparation with a 
view to adapting the know-how transfer model to new challenges in the agriculture sector. 
5.46.  Another point worthy of note is that Cabo Verde has granted no export subsidies in 
agriculture since its accession to the WTO. 
Fisheries 
5.47.  Cabo Verde's fisheries policy follows the fisheries resource management plan aimed at 
ensuring sustainable exploitation and management of the various commercially viable species. Implementation of the plan includes monitoring the effectiveness of stock management measures 
and their social, economic and trade impact. 
5.48.  An oceanography centre is currently under construction and will enter into operation in 
2016. This will increase the country's capacity to study and monitor fish populations. 
5.49.  Sanitary controls and certification procedures for fishery products for human consumption 
comply with global best practices and meet the specific requirements of the EU health regulations. 
5.50.  Fishing in Cabo Verde includes grouper, halibu t, mackerel, other small pelagic species, and 
demersal species. Halibut fishing is reserved for small-scale fishermen using their own boats; 
halibut is also caught by industrial and semi-industrial vessels, which are monitored by both technological means and fishery inspectors. 
5.51.  The measures adopted for the management of tuna and tuna-like species are within the 
limits recommended by the International Commission for the Conservation of the Atlantic Tunas 
(ICCAT), of which Cabo Verde is a member. 
5.52.  Under the fisheries agreement with the EU, authorization to fish is limited to highly 
migratory species, such as tuna, and complies with the FAO and ICCAT recommendations. 
5.53.  One major concern is the eradication of illegal  unreported and unregulated (IUU) fishing, a 
phenomenon which threatens coastal States and food security worldwide. The measures taken by 
the Government in this regard include improving the legal framework and pressing on with 
institutional reform, capacity building, and insp ection and monitoring of human and operational 
resources, in addition to strengthening cooperation with the European Union and some of its members, as well as the FAO. 
5.54.  A national action plan to combat IUU fish ing was adopted in 2015, in line with the FAO 
International Plan of Action to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated 
Fishing (IPOA-IUU). 
5.55.  The new penalties under the IUU regime throughout the territory under Cabo Verdean 
jurisdiction or any IUU fishing by national vessels in international waters, whether on the high seas or off the coasts of third countries, are truly dissuasive. 
5.56.  The Decree-Law governing and implementing the satellite-based fishing vessel monitoring 
system (VMS), both within and outside Cabo Verde's exclusive economic zone (ZEE) as regards national vessels and within the ZEE as regards foreign vessels, was published in 2012. The Cabo Verdean Coast Guard's Maritime Security Operations Centre (COSMAR) and teams of fishery 
inspectors spread across all the islands handle the rising number of inspections and increased 
monitoring within our ZEE. 
5.57.  Another point worthy of mention is the Government's creation, in 2014, of ACOPESCA, a 
new agency chiefly entrusted with the monitoring, inspection and surveillance of fishing activities 
and fishery products, including their certification, in Cabo Verde. WT/TPR/M/322 • Cabo Verde 
 
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  5.58.  We are well aware that this statement may no t have provided detailed answers to all the 
questions raised that warrant our attention. However, my Government stands ready to continue the dialogue in the interests of the transp arency of the multilateral trading system. 
5.59.  Before closing, I would like to extend renewed thanks to the discussant, the Ambassador of 
Sweden, for his extremely useful comments, the WT O Secretariat for all the support afforded to 
my delegation, and to you, Mr Chairman, for your  efficiency in guiding our work during these 
two sessions. Thank you all very much. 
DISCUSSANT 
5.60.  Let me thank the Honourable Minister for her very extensive answers to the issues that were 
raised. There is an old Swedish expression that translated in English would be more or less "There is no cow on the ice", that means that farmers and Sweden would be very worried because if the 
ice is weak and the cow goes through the ice it is  almost impossible to save it. So the expression 
" T h e r e  i s  n o  c o w  o n  t h e  i c e "  i s  a n  e x p r e s s i o n  t h a t  m e a n s  m o r e  o r  l e s s  t h e r e  i s  n o  i m m e d i a t e  course for alarm, we could relax, no need to worry too much. That is very much the sense I get 
when I read the reports from the Government of Cabo Verde and also the Secretariat and from the 
answers we have heard from the Minister today. 
5.61.  It is not, in any way, to suggest that everything  is perfect. I don't think that it is perfect in 
any country. Cabo Verde certainly faces challenges but the encouraging thing that makes me think 
about the "no cow on the ice" expression, is that I get the impression that Cabo Verde is very much aware of what needs to be done, there are st rategies in place. Implementation is, of course, 
going to be a challenge, it is always a challenge, and there are some areas that we will probably 
need to follow-up in the WTO in the future. I am convinced that this is something that will be 
tackled in a very clear and concise strategic manner. That is why I have a good feeling about this. 
5.62.  There were a few questions, like the Minister said, that we might come back to. One of them 
is technical assistance from the WTO. I would be happy to follow-up with the Cabo Verdean 
delegation in Geneva to talk about that because I think it is important. Technical assistance is something that can be used by all the Members.  
5.63.  The only thing that remains from me is to thank both the delegation from Cabo Verde and 
the WTO Secretariat for a very well perf ormed TPR. Congratulations. Thank you. 
DEMOCRATIC
 REPUBLIC  OF THE CONGO 
5.64.  The delegation of the Democratic Republic of the Congo sincerely congratulates 
H.E. the Minister for her statement and all her explanations. Her very clear presentation is most 
encouraging. 
5.65.  We note the Government's determination to move ahead. All the reforms undertaken are 
designed to take the country's development even further and to ensure the successful 
implementation of all government projects and programmes. 
5.66.  As the discussant, H.E. the Ambassador of Sweden, so rightly said, the country is need of 
technical assistance and Aid for Trade. This was und erscored by H.E. the Minister at the end of her 
statement. 
5.67.  We urge the main partners to take this into account and to provide further support for this 
country so that it makes an even greater success of its development efforts. We wish it a bright 
and successful future. WT/TPR/M/322 • Cabo Verde 
 
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON 
6.1.  This first Trade Policy Review of Cabo Verde ha s provided an excellent opportunity to deepen 
our understanding of Cabo Verde's economic an d trade policies, and the environment in which 
these policies operate. My sincere thanks go to H.E. Madame Leonesa Maria do Nascimento Lima 
Fortes, Minister of Tourism, Investment and Business Development, and the other members of the 
delegation from Cabo Verde and the Geneva mission, for their focused and constructive 
engagement throughout this exercise. I would also like to thank H.E. Ambassador Daniel Blockert, 
Permanent Representative of Sweden to the WT O, for his interventions as discussant. Cabo 
Verde's written answers to the advance written questions have been well appreciated by Members. We can expect a full set of responses to all issues raised within one month after this meeting.  
6.2.  Members commended Cabo Verde for its commitment to political stability and good 
governance, sound macroeconomic management, ec onomic reform, and market liberalization. 
Cabo Verde's efforts have been successful not least because of the involvement of all domestic stakeholders, including public sector department s, municipalities, the chambers of commerce, 
financial institutions, as well as local entrepreneurs. 
6.3.  It was acknowledged that Cabo Verde faces challenges with a relatively small population 
dispersed over a vast archipelago and given its exposure to natural disasters. Despite these 
drawbacks, Cabo Verde's economic track record  h a s  a l l o w e d  i t  t o  g r a d u a t e  f r o m  U N  L e a s t  
Developed Country status at the end of 2007. Cabo Verde has, like so many other countries, been affected by the global economic downturn. However, growth has returned to the economy albeit at a pace below the historic long-term trend.  
6.4.  Members noted that since its accession to the WTO in 2008, Cabo Verde has revised key 
aspects of its trade-related legislation, in particular a new Customs Code adopted in 2010, a new investment law, a Code of Fiscal Benefits, an d a new framework law governing sanitary and 
phytosanitary measures. However, Cabo Verde wa s also reminded that whilst pursuing sound 
improvements in the legal basis for its trade po licy, the practical implementation of existing 
legislation also required sustained efforts.  
6.5.  Members supported Cabo Verde's ambitions to increase its competitiveness and productivity, 
with focus on diversified economic development. Tourism dominates the economy at present. Among notable achievements in recent years, mention was made of a modernized financial 
regime. A better policy environment for increased investment could be witnessed in the 
establishment of online business registration procedures, a single window for investment, 
paperless customs clearance, and ongoing work to create a unified platform for Cabo Verde's customs, port and trade information systems.  
6.6.  On the institutional front, several Members highlighted the recent creation of a National Trade 
Council as a permanent structure for formulating and coordinating Cabo Verde's trade policies. The setting up of a Trade Facilitation Committee was also appreciated, and in this connection Cabo 
Verde was encouraged to notify its Category A commitments to the WTO and complete the internal 
process allowing ratification of the WTO Trade Faci litation Agreement. I take note of the statement 
made by Minister Lima Fortes that the Category A commitments of Cabo Verde will be notified before the 10th Ministerial Conference of the WTO.  
6.7.  The traditional dominance of a few members of the European Union in Cabo Verde's 
commercial exchanges was noticed and, together with its partners in the Economic Community of West African States (ECOWAS), Cabo Verde had completed the negotiations for an Economic 
Partnership Agreement with the EU. However, this agreement provided a framework not only for a 
closer relationship with the EU but also among the members of ECOWAS. In this context, several Members inquired about Cabo Verde's timetable for implementation of the ECOWAS Common 
External Tariff. It was acknowledged that the adoption of the ECOWAS CET by Cabo Verde will 
require numerous adjustments of its tariff commitments in the WTO. Cabo Verde's present applied MFN tariffs are low, averaging 10.3% in 2015, even  though they exceed their bound levels on a 
few tariff lines.  
6.8.  Although Members appreciated Cabo Verde's efforts to consolidate fiscal support measures 
into a single Code of Fiscal Benefits, questions were raised about possible links between fiscal WT/TPR/M/322 • Cabo Verde 
 
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  incentives and tariff exemptions and Cabo Verde' s ambitions to increase its exports. Questions 
were also asked regarding some of Cabo Verde's customs user charges and their relation with WTO rules. Finally, some Members highlighted the need  for Cabo Verde to improve the performance of 
certain public enterprises and to proceed with the privatization of the more commercially-oriented 
among them where this would be possible. In the long term, Cabo Verde's economic growth 
depends on the success of internal structural reforms targeting the performance of the public 
sector and state-owned enterprises. 
6.9.  In conclusion, Members encouraged Cabo Verde to maintain its generally open trade and 
investment policies and supported its efforts to continually improve its business environment. Cabo Verde was reminded that a WTO-consistent trade and investment regime should assist Cabo Verde in achieving its goals. The need for technical assistance to enhance Cabo Verde's institutional 
capacity was widely recognized.  
6.10.  Members warmly welcomed that this first Trade Policy Review of Cabo Verde has provided 
an opportunity to assess progress and to identify areas of further work. The questions posed and 
the active participation of delegations in this meeting reflect Members' interest in Cabo Verde's 
trade and investment policies and practices. In closing, I would like to thank the delegation of Cabo Verde, all the other delegations, the discussa nt and the Secretariat for this successful review. 
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