[6] Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts.

Economic reforms, launched by the new democratic government in 1991, are aimed at developing the private sector and attracting foreign investment to diversify the economy.

Cape Verde has cold storage and freezing facilities as well as fish processing plants in Mindelo, Praia, and on Sal.

Although nearly 35% of the population lives in rural areas, the share of agriculture in GDP in 2010 was only 9.2% (up from 8.9% in 1995); of the 1998 total, fishing accounts for 1.5%.

In 1994-95 Cape Verde received a total of about U.S.$50 million in foreign investments, of which 50% was in industry, 19% in tourism, and 31% in fisheries and services.

Prospects for 2000 depend heavily on the maintenance of aid flows, remittances, and the momentum of the government's development program.

[7] Cape Verde's strategic location at the crossroads of mid-Atlantic air and sea lanes has been enhanced by significant improvements at Mindelo's harbour (Porto Grande) and at Sal's international airport.

[8] On December 18, 2007, the General Council of the World Trade Organization approved a package for the accession of Cape Verde to the WTO.