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Cape Verde recognizes China's market economy status
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11:19, July 17, 2007

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Cape Verde on Monday recognized China's market economy status and pledged to boost economic and trade ties with China.

Chinese Vice Minister of Commerce Wei Jianguo and Cape Verde Minister of Economy, Development and Competition Jose Brito signed a memorandum of understanding on Cape Verde recognizing China's market economy status in the country's capital Praia.

Brito said at the signing ceremony that Cape Verde will work with China to strengthen bilateral cooperation and economic and trade ties.
The two countries signed an investment pact in 1998 and an accord on trade and economic cooperation in 1999.

China has provided economic and technological aid to Cape Verde, including the construction of government buildings, a national library and a dam, since the two countries established diplomatic ties in 1974.

Source: Xinhua



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