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Tuesday, 13 December 2011

'GSP+' status to Cape Verde

Under this trade scheme, which grants preferential access to the EU market when certain conditions of good governance are fulfilled, +, Cape Verde will continue to enjoy generous preferential access to the EU after its graduation from the "Everything But Arms" (EBA) initiative. Cape Verde is today the first African nation to sign up to GSP+," says EU Trade Commissioner Karel De Gucht. "This is excellent news for the country's sustainable path to development and I am delighted that an EU trade instrument is supporting this".
EBA and GSP+ are sub-schemes of the EU's "Generalised System of Preferences", which gives preferences for exports from 176 developing countries and territories. As a "Least Developed Country" (LDC), Cape Verde has enjoyed full, duty free – quota free access to EU markets (except for arms and ammunitions) through EBA which is the most generous preferential scheme for LDCs in the world. The EU champions the introduction of equally generous schemes for LDCs by other developed and emerging
Cape Verde graduated from the "Least Developed Country" (LDC) UN status in 2008 and was granted a three-year transition period which expires on 31 December 2011 in order to allow market operators to adjust to a new tariff regime. In October 2011, Cape Verde applied for benefits under GSP+, a special incentive arrangement which provides enhanced access to EU markets to countries that commit to effectively implement 27 core international Conventions on the respect of human and labour rights, the environment and good governance. The European Commission today confirmed that Cape Verde fulfills the provisions to enjoy preferential access under
The country continues to be part of negotiations for a comprehensive Economic Partnership Agreement between the EU and West Africa, involving also Benin, Burkina Faso, the Ivory Coast, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo and Mauritania.

Source: European Commission