Three cheers for Cape Verde
I can't say that my top of mind recall of Cape Verde goes much beyond, 'erm, islands off the coast of Africa, ex Portuguese colony', but having seen that it has just joined the WTO, went for a little dig:
"Since 1991, the country has pursued market-oriented economic policies, facilitating foreign investment, fostering the private sector through privatisations, developing tourism, light manufacturing industries and fisheries. Cape Verde has also developed its transport, communications and energy facilities".
And it has worked: "In 2007 the United Nations graduated Cape Verde from the category of Least Developed Countries, only the second time this has happened to a country".
The other country to get promotion is Botswana, also a free market orientated democracy.
As a footnote, the WTO states "Any state or customs territory having full autonomy in the conduct of its trade policies may become a member (“accede to”) the WTO". The UK is a member, but can it be said to have 'full autonomy in the conduct of its trade policies'? Open to debate, isn't it?
"Since 1991, the country has pursued market-oriented economic policies, facilitating foreign investment, fostering the private sector through privatisations, developing tourism, light manufacturing industries and fisheries. Cape Verde has also developed its transport, communications and energy facilities".
And it has worked: "In 2007 the United Nations graduated Cape Verde from the category of Least Developed Countries, only the second time this has happened to a country".
The other country to get promotion is Botswana, also a free market orientated democracy.
As a footnote, the WTO states "Any state or customs territory having full autonomy in the conduct of its trade policies may become a member (“accede to”) the WTO". The UK is a member, but can it be said to have 'full autonomy in the conduct of its trade policies'? Open to debate, isn't it?
Labels: Africa, free trade, Good news - for once, Sane economics, WTO
This entry was posted
on Saturday, July 26, 2008 at 9:19 am.
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Don't we sit behind Mandy and Sarko at the high table?
Presumably "promoted" from Least Developed to Under Developed?
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