The United States-Cape Verde Business Forum Promotes American Investments In Africa

The United States-Cape Verde Business Forum Promotes American Investments In Africa

Cape Verde is reaching out to American entrepreneurs. The country’s Prime Minister José Maria Neves is set to be in Boston on Monday, September 30, to attend a forum with the aim of promoting bilateral trade and investment on the part of American entrepreneurs in Cape Verde, reports Asemana.

The event is being promoted by the two countries and its goal is to position Cape Verde as a business center for West Africa. It will serve as an opportunity for Cape Verdean business owners and investors to become more familiar with AGOA, a program created more than 20 years ago by the United States government to provide African countries with tariff- and quota-free access to the U.S. market.

“The United States-Cape Verde Business Forum: promoting trade, investments and contacts,” targets business owners, investors, officials, chambers of commerce and other U.S. institutions and individuals potentially interested in doing business in Cape Verde.

Neves will head a delegation that also includes the president of investment promotion agency Cabo Verde Investimentos, Armando Duarte, who will be responsible for introducing American investors to Cape Verde’s potentialities and, more importantly, convincing them of the advantages of investing in Cape Verde as a springboard to vast West African market, reports Asemana.

The Cape Verdean government teamed up with the Millennium Challenge Corporation (MCC) to hold the event, which will include spaces for business-to-business contacts, networking, high-level political dialogue, informational sessions, visits to local businesses and meetings with high-level government employees, business executives and investment promotion agencies.

The event is the first of its kind to be promoted by the two countries. It also constitutes an opportunity to disseminate the African Growth Opportunity Act (AGOA), which “has not been taken advantage of” by Cape Verdean businesses and investors due to their lack of export capacity.

The forum was organized by Cape Verde’s Ministry of Foreign Relations, with the support of the Cape Verdean Embassy in Washington, DC and the Cape Verdean Consulate General in Boston.