21 December 2007
Cape Verde has been formally accepted into the World Trade Organisation (WTO), giving it an important position in the global community.
The WTO's General Council announced on December 18th that it was formally approving Cape Verde's entry and director general Pascal Lamy has welcomed the accession of the country.
Mr Lamy described the arrival of Cape Verde as "another sign of confidence" and added that Cape Verde can now expect to enjoy a "predictable and stable basis for growth and development".
The accession of Cape Verde to the WTO comes quickly after the country moved from being a 'least developed country', to a 'developing nation'.
These moves demonstrate the fast growth currently in the Cape Verde economy and the country is becoming one of the most hotly sought-after holiday destinations, while investors are also turning their attention to the country as its economy shows signs of continued strength.
