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Business Profile
Economy: About one-quarter of the working population is engaged in agriculture. Maize and beans are the main crops; a variety of fruit and vegetables are also grown. The agricultural sector is especially vulnerable to the periodic droughts that afflict the islands, often lasting for several years. Meanwhile, throughout the 1990s, the fishing industry has received substantial international aid, reflected in the result that the islands’ catches now contribute almost half of the total export earnings. The small industrial sector is dominated by fish processing and canning factories, to which electrical and other machinery, chemicals and textiles have recently been added. Mining is confined to salt and pozzolana (used in cement production). Future economic development is being focused on tourism, transhipment facilities and ‘offshore’ financial services. A further vital source of national income is the remittances provided by émigré communities – some 700,000 Cape Verdeans live abroad, mainly in the USA. Portugal, The Netherlands, Brazil, the USA and Japan meet the bulk of Cape Verde’s import requirements. Cape Verde is a member of the West African Economic Community (ECOWAS).
Business: All correspondence should be in English or French. Most of Cape Verde’s business links are with Portugal. Office hours: Mon-Fri 0800-1230 and 1430-1800.
Commercial Information: The following organisations can offer advice: Câmara de Comercío Industria, Agricultura e Serviços de Barlavento, Rua de Luz 31, CP 728, Mindelo, São Vicente (tel: 328 495; fax: 328 496; e-mail: camara.com@cvtelecom.cv; website: www.cciasb.com); or Câmara de Comercío Industria e Servícos de Sotavento, Avenida Andrade Corvo, Edificio Shopping Moeda, Praia, Santiago (tel: 617 234 or 615 352; fax: 617 235; e-mail: cciss@cvtelecom.cv); or Centro de Promoção Turística, do Investimento e das Exportações (PROMEX), CP89c, Praia, Santiago (tel: 622 621; fax: 622 657; e-mail: promex@mail.cvtelecom.cv; website: www.promex.org).
Conferences/Conventions: The following organisation can offer advice: Ministry for Education, Science, Youth and Sport, Palácio do Governo, Santiago, Praia (tel: 610 507; fax: 612 764). The larger hotels on the main islands can provide conference facilities.
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