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Continental Free Trade Agreement: Cabo Verde will have to invest in industry and agriculture – economist

Praia, Jan 4 (Inforpress) – Economist José Agnelo Sanches considered that for Cabo Verde to benefit from them African Continental Free Trade Agreement (AfCFTA), it will have to invest in industry, agriculture and development services.

José Agnelo Sanches, who spoke to Inforpress about AfCFTA in the African Continental Free Trade Area (FTAA) and which officially entered into force on Friday, January 1, said that the country will have to affirm itself as a national economy of utility for the least in the Economic Community of West African States (ECOWAS) region.

“Cabo Verde is a very small country that, in terms of foreign trade, is an importer, has no exports, has no industry and has very low and small production. To take advantage of this agreement, it has to develop, invest in industry, agriculture, but also in the development of services”, he defended.

In view of the COVID-19 pandemic, he stressed that the Cabo Verdean economy has gone through a deep recession and will have to take economic recovery measures, stressing that this agreement is something that will serve and allow the country to work and profit in the future.



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