Portugal–São Tomé and Príncipe relations

Portugal – São Tomé and Príncipe relations

Portugal	São Tomé and Príncipe

Portuguese embassy in São Tomé and Príncipe.

Portugal – São Tomé and Príncipe relations refers to the current and historical relationship between Portugal and São Tomé and Príncipe.

São Tomé and Príncipe was a colony of the Portuguese Empire from the 1490s until 1975, when it received independence. In 2009, Portugal was the largest importer to its former colonial possession by a wide margin; a majority of the island nation's imports (close to 59%) came from Portugal. Portugal was the fourth largest importer of goods from São Tomé and Príncipe, taking in approximately 4.3% of all exports.^[1] In January 2011, Portuguese foreign minister Luís Amado visited São Tomé for two days. Several agreements were reached which promoted increased bilateral trade, including the elimination of double taxation. The Portuguese foreign ministry called the relations "remarkable".^[2]

As it occurred with Cape Verde before the introduction of the Euro, São Tomé and Príncipe signed a deal with Portugal in 2009, linking the national currency, the dobra, with the euro. The exchange rate was fixed at 1 EUR = 24500 STD.^[3]

References

1. São Tomé and Príncipe CIA Factbook
2. Joint Communiqué by the Portuguese Minister of State, Minister for Foreign Affairs and Minister for Foreign Affairs and Communities of São Tomé e Príncipe Ministry of Foreign Affairs of Portugal, January 27, 2011
3. http://www.telanon.info/economia/2010/01/04/2437/1-euro-equivale-a-24500-dobras/