Economic Diplomacy
Strengthening Strategic Relationships
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Impact of Cape Verde's Economic Diplomacy
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Strengthening Strategic Relationships
Cape Verdean economic diplomacy is committed to boosting the special partnership with the European Union, with a focus on Luxembourg. The focus is on strengthening the attraction of Luxembourgish foreign investment, especially in strategic sectors such as renewable energy, maritime and air transport, green hydrogen and information technology.
These efforts aim to create an environment of mutual cooperation, promoting the sustainable development of Cabo Verde and strengthening bilateral ties.
Impact of Cape Verde's Economic Diplomacy
Target of electricity from renewable sources by 2030, with investments of millions of euros.
Value of the “Diaspora Bond” to attract investments from the diaspora.
Exports with preferential access to the US market via AGOA, moving millions of euros.
Integration of Cape Verde into ECOWAS, promoting multi-million euro business in the region.
The Role of Diaspora in National Development
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The Role of Diaspora in National Development
Economic diplomacy recognizes emigrants as valuable sources of investment for the development of Cape Verde. Initiatives such as Diaspora Bonds and the strengthening of the blue economy aim to include the Cape Verdean diaspora in this growth process. Strengthening ties with the diaspora allows emigrants to feel the pulse of the country's economic progress and integrate into it, contributing their intellectual, political and economic capacity to drive strategic projects.
Opportunities in International Organizations
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ECOWAS (Economic Community of West African States)
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AGOA (African Growth and Opportunity Act)
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CPLP (Community of Portuguese Speaking Countries)
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Opportunities in International Organizations
Cape Verde seeks to maximize the opportunities offered by international organizations and mechanisms of which it is a member. The following stand out:
ECOWAS (Economic Community of West African States)
Political and economic institution that brings together 15 West African countries. Created in May 1975 by the Treaty of Lagos, its main objective is to promote economic integration in all areas of activity of the member states.
AGOA (African Growth and Opportunity Act)
An economic mechanism established by the US government to encourage trade and investment in sub-Saharan Africa. AGOA focuses on expanding the Generalized System of Preferences (GSP), allowing access to around 1,800 products on the US market under special conditions.
CPLP (Community of Portuguese Speaking Countries)
Organization that brings together Angola, Brazil, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique, Portugal, São Tomé and Príncipe, and East Timor. The CPLP promotes economic, political and cultural cooperation among Portuguese-speaking countries.
Innovation and Sustainability for Growth
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Innovation and Sustainability for Growth
Cape Verde is investing in innovative and sustainable sectors as pillars for growth. Projects involving green hydrogen, renewable energy and information technology are essential to consolidate the country as a model of sustainable development. In addition, the involvement of Cape Verdean descendants in strategic positions in international organizations and local governments reinforces the global impact of the country's economic diplomacy.