Summary Analysis about Cape Verde Essay Example | Topics and Well Written Essays - 1750 words

Summary Analysis about Cape Verde - Essay Example Cape Verde is a member of the Economic Community of West African States (ECOWAS) and the World Trade Organization (WTO). As a result of all the mentioned factors, there has been increased tourism, American and European trade, and investment in Cape Verde in recent years. The Cape Verde government is happy with the nation’s development, and it has therefore taken the initiative to further develop the economy of Cap Verde. After a lot of evaluation and consultation, the government decided that establishment of an aviation hub in Cape Verde will lead in the attainment of further economic development. The government chose Dubai as a blueprint for their undertaking. The project is a long-term plan that will be executed in three phases. The first phase will involve investment of 310 million Euros and generation of 15,000 new construction jobs (â€Å"Dubai International Airport,† ameinfo.com).The second phase will involve the development of a fully operational airline and airp ort, while the third phase will involve investment of an additional 3billion Euros (â€Å"Dubai International Airport,† ameinfo.com) to ensure the creation of a consumer centered and commercially oriented strategic aviation hub. The establishment of an aviation hub similar ton Dubai in Cape Verde is a viable project. This is because it will promote trade, tourism, hospitality, and travel, which are the key sectors that drive growth in Cape Verde. The competitiveness of Cape Verde’s economy will also be enhanced, foreign direct investment will be enhanced, local companies in Cape Verde will be integrated into the global business community, and more jobs will be create. The establishment of an aviation hub in Cape Verde will have a great effect on the economy of Cape Verde and Africa in general. 2. Chinese Ambassador says that Cape Verde may get Chinese-African Trade Zone Beijing authorities plan to establish six special trade areas in Africa. According to a speech by Su n Rongmao, who is the Chinese ambassador to Cape Verde; Cape Verde may be selected as one of the six special trade areas. Sun supports the selection of Cape Verde due to its strategic geographical location. Sun added that he, together with the Chinese Embassy in Cape Verde were making great efforts to ensure that the Chinese government selects Cape Verde among the six trade areas. However, the decision by the Chinese government would depend on a number of other factors such as Cape Verde’s links to other African nations and the nation’s infrastructure. Jorge Borges, the foreign minister of Cape Verde emphasized on Cape Verde’s interest to Beijing authorities in holding the special trade area. He also emphasized on the nation’s strategic geographical location between Europe and the Americas, social stability, and the peace that abounds, making it favorable for economic undertakings. The support of Cape Verde’s selection as an African Economic Zone b y the Chinese ambassador and the Chinese Embassy in Cape Verde is a great step in the attainment of Cape Verde’ s economic goals. Cape Verde’s interest in becoming an African Economic Zone is also a considerable factor. Another advantage comes from the fact that the nation’s geographical location is no doubt strategic and will promote businesses in Africa, Europe, and the