25 June 2008
Cape Verde is to become an official member of the World Trade Organisation next month on July, 23rd.
The WTO has accepted the archipelago's membership agreement to become the 153rd member of the trade organisation last Monday.
Cape Verde's membership to the WTO is expected to provide stability in terms of growth and development and therefore promote the country's economy and global trade.
The former Portuguese island, which is home to around 400,000 inhabitants, became independent in 1975. It specialises in the production and exportation of salt, bananas and fish.
The country first expressed its wish to enter the international organisation in 1999 and has had to apply the WTO's regulations to its trading practices and open its markets to imported goods and services to become a member.
The WTO, which was set up in 1995, is responsible for establishing long-lasting and sustainable trade agreements between its members so as to promote global economic development and stability.
