commercial section
The Commercial Section at the U.S. Embassy in Praia offers a number of services to American and Cape Verdean businesses to promote trade between the U.S. and Cape Verde. The Embassy can facilitate contact between companies of the two countries, either for commercial ventures or investment projects.
The primary mission of the Commercial Section is to support
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Promote the export of U.S. goods and services
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Protect and advocate for U.S. business interests in Cape Verde
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Assist U.S. firms in realizing their export potential by providing couseling and advice, information about the Cape Verdean market, contacts, and trade promotion vehicles
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Support the export promotion efforts of other public and private organizations, and creating, through partnership, a full-service export development infrastructure
Businesspersons should visit http://www.export.gov/ to find the latest market analyses, trade evetns, trade and investment climates, and trade leads for Cape Verde. In the 'Find Opportunities' menu, select 'Market Research' and follow the link to the Research Library. Company registration is not required to view the Country Commercial Guide. Access to all other market data will require registration with the U.S. Commercial Service.
SERVICES PROVIDED BY THE COMMERCIAL SECTION:
International Partner Search (IPS)
Helps identify for U.S. firms, prospective business agents/distributors/partner in Cape Verde. Reports the willingness of qualified Cape Verdean firms to represent U.S. products or services and offers some background on these firms.
Trade Lead Opportunity Program
The objective of the Trade and Opportunity Program is to help local firms identify American suppliers whose products and services are needed here. The Embassy forwards information on local needs electronically to the U.S. Department of Commerce in Washington, which automatically identifies appropriate American suppliers by computer. The same service is used to research potential American partners for investment projects.
International Buyers Program (IBP)
The International Buyers Program brings buying delegations from around the world to trade shows in the U.S. International business centers at these shows are staffed with expert trade professionals and interpreters to help American firms establish international contacts. The Embassy actively promotes the IBP shows in the Cape Verdean business community.
Commercial Library
The commercial library has a selection of commercial documentation including directories of American manufacturers and exporters; U.S. Government-published catalogs and magazines that promote American products and services; and company/product catalogs. Legal firms, banks, management consultants, etc, are encouraged to place material in the library to expose company and product information to visitors to the Commercial Section of the Embassy.
SPECIAL TREATIES/PROGRAMS BETWEEN THE U.S. AND CAPE VERDE
Millennium Challenge Account
Cape Verde was one of eight African countries to qualify for the Millennium Challenge Account (MCA) in 2004. On July 4, 2005, Cape Verde became the third country to sign a compact with Millennium Challenge Corporation with the government of the United States. The country is expected to receive USD 110m over a five-year period. The funds are primarily allocated for projects in infrastructure improvement, namely the construction of new roads and the upgrade of ports in both Praia and Sal. Initiatives in water improvement and management are expected to spur growth in the agricultural sector. Financial sector reforms and improvements in the investment climate are also highly anticipated.
For more information on the MCA program in Cape Verde click here.
The African Growth and Opportunity Act (AGOA)
Cape Verde has been eligible to the AGOA program since May 2000 when the Trade and Development Act of 2000 was passed by the U.S. Congress and signed into law. AGOA establishes a new framework for U.S. trade, investment and development policy for sub-Saharan Africa. The Act offers Cape Verde duty-free and quota-free U.S. market access for essentially all products through the Generalized System of Preferences. For more information on the opportunities provided by the AGOA visit the AGOA web site.
Cooperation on Air Transportation
One of Cape Verde's most important assets is its strategic location, a crossroads for passengers and goods crossing the Atlantic Ocean. The international airport on Sal Island has the capacity to become a regional airline hub. With that in mind, the government is emphasizing the development of airports, seaports and telecommunications facilities across all the islands.
On September 9, 2003, Cape Verde became the first of the Safe Skies countries to meet ICAO safety standards and achieve FAA Category 1 as a result of the technical assistance provided under the Safe Skies Program. With respect to aviation security, Cape Verde serves as a last point of departure for direct flights to the United States. FAA awarded Category 1 for safety for Cape Verde's regular scheduled air service to the United States from both Sal and Praia's international airports. The first flight to the U.S. by Cape Verde's national carrier TACV took place on July 4, 2005.
The FAA has assisted Cape Verde in obtaining ETOPS qualification which allows Cape Verdean Airlines to fly its Boeing aircraft directly from Praia and Sal Airports to the United States and Brazil. Achieving Category 1 and ETOPS qualifications have had a direct benefit on the country's economy and represent an upgrade in the country's safety and tourism capacities.
World Trade Organization (WTO)
On 23 July 2008, the WTO welcomed Cape Verde as its 153rd member. Cape Verde started its accession negotiations in 1999 and benefited from the United States’ technical assistance during accession negotiations as well as from strong support of the European Union.
Contact:
For additional information contact the US Embassy in Praia:
Email: econcommcv@state.gov
Phone: +(238) 260-8922
Fax: +(238) 260-1355
Commercial Links