Cape Verde Trade

Cape Verde: The country’s relations with the EU

Delegation of the European Union to Cape Verde (Delegação da União Europeia em Cabo Verde)
Avenida Rotary International – CP 122, Praia, República de Cabo Verde
Telephone: + 238 262 13 92/93/94 Fax: + 238 262 13 91
E-mail: delegation [email protected]

Representation of the EU in the country

The country’s trade relations with the EU

From the point of view of foreign trade, Cape Verde is fully oriented towards the EU, or to the European continent, where 79.6% of their imports came from in 2019 and where 96.4% of their exports went. The most important partners are Spain and Portugal. Due to its membership in ECOWAS, Cape Verde tries to be a gateway for European exporters to West African countries, which results in a relatively high re-export of European products.

  • Allcountrylist: Overview of major industries in Cape Verde, including mining, construction, transportation, tourism, and foreign trade.

Provision of development funds and EU instruments

Cape Verde is culturally and historically very close to the EU and, compared to other African countries, they have above-standard relations with the EU. Political and trade relations and development cooperation between the EU and Cape Verde are regulated by the Cotonou Agreement, but in 2007 a special partnership was concluded, which goes beyond the normal relationship between donor and recipient of development aid. Within its framework, the EU focuses mainly on supporting good governance, security and stability, regional integration, sustainable development and the fight against poverty.

As part of the National Indicative Plan for the years 2014 to 2020, EUR 55 million has been allocated for Cape Verde. Cooperation will be focused mainly on promoting growth and reducing poverty and strengthening the special partnership between the EU and Cape Verde.

Cape Verde: Business and economic cooperation with the Czech Republic

(in thousands of USD)

Balance of mutual trade exchange for the last 5 years

2015 2016 2017 2018 2019
export of the Czech Republic 559 187 168 658 830
import of the Czech Republic 7 660 380 3 27
turnover 566 847 548 661 858
balance 552 -472 -212 655 803

Source: CZSO

As is clear from the table, mutual trade between the Czech Republic and Cape Verde is subject to large fluctuations and is strongly influenced by random business cases.

10 most important Czech export/import items

The main export commodities of the Czech Republic in 2019: Control devices for use in the energy industry, processor units, joinery products, motor vehicles and plastics.

Main import commodities of the Czech Republic in 2019: Communication devices.

Mutual exchange in the field of services

From the point of view of the exchange of services, the increasing number of trips by Czech tourists to Cape Verde plays the biggest role. In 2018, about 20,000 of them visited the country. More details on the exchange of services are not available.

Czech investments in the territory: Companies and joint-ventures in mutual trade and in other areas of economic cooperation

There are currently no Czech investments in the territory.

The contractual basis between the two states

No bilateral agreement was concluded between the Czech Republic and the Republic of Cape Verde in the field of trade and economic cooperation.

Foreign development cooperation

Since 2014, the Czech Republic has implemented several small local development cooperation projects in Cape Verde, each worth approx. 200,000. CZK. The first small local project was carried out in 2014 in the field of culture. In 2015, the project of the Cape Verdean branch of the international non-governmental organization SOS Children’s Villages was supported. In 2016, a small development project to promote computer literacy took place on the island of Santo Antão.

The development cooperation continued in 2017, when two proposals were supported, namely a project to develop the game of bocce for people with cerebral palsy and a project by the Cape Verdean branch of the international NGO SOS Children’s Villages in Mindelo. In 2018, a project was carried out to support the renewal of the neonatology department at the hospital on the island of Sao Nicolau.

Between 2014 and 2018, the Czech Republic also awarded government scholarships to Cape Verdean students to study at public universities, usually two per year.

Cape Verde Trade