Cape Verde economic performance was bolstered by one of the fastest growing tourism industries in the world, as well as by substantial capital inflows that allowed Cape Verde to build up national currency reserves to the current 3.5 months of imports. Unemployment has been falling rapidly, and the country is on track to achieve most of the UN Millennium Development Goals – including halving its 1990 poverty level. In 2007, Cape Verde joined the World Trade Organization (WTO) and in 2008 the country graduated from Least Developed Country (LDC) to Middle Income Country (MIC) status. Cape Verde has significant cooperation with Portugal
Cape Verde–European Union relations of the beneficiaries of the EU's regional cooperation programme with Portuguese-speaking African countries (PALOP) countries: Angola, Guinea Bissau, Cape Verde and São Tomé and Príncipe. In March 2005 former Portuguese president Mário Soares launched a petition urging the European Union to start membership talks with Cape Verde, saying the country could act as a bridge between Africa, Latin America and the EU. Cape Verde's per capita GDP is lower than any of the current member states, accession countries, or candidate countries. However, it is higher than that of some of the EU-designated "potential candidate countries" of the Western Balkans like