What are the major stages of freight forwarding?
Freight forwarding is a complex process that involves multiple critical stages to confirm the smooth and efficient movement of goods across borders. It begins with shipment booking, where freight forwarding companies arrange transportation and reserve capacity with carriers, confirming timely delivery. Exact documentation, including bills of lading and customs announcements, is important for approvals with the Harmonized System Code (HS Code), which classifies goods for international trade. Cargo handling plays a crucial role in managing the physical movement of shipments, including loading and unloading, to maintain efficiency and safety. Customs clearance is another necessary step, requiring coordination with customs brokers to navigate regulatory procedures, especially when utilizing trade benefits such as the Generalized System of Preferences (GSP). All over transportation,freight forwarding services guide the transit of goods through various modes, including air, sea, and land, confirming that shipments move smoothly through the supply chain. The process is further guided by Incoterms, Â which define roles between buyers and sellers, with terms like Delivered at Place (DAP) defining the delivery responsibility. Finally, cargo forwarding services manage the last-mile distribution, confirming goods reach their designated destinations efficiently and in agreement with all trade regulations.
Insights into the IT, Aviation, Medical, and Automotive Industries in Cabo Verde
IT industry: Cabo Verde is investing in its digital trade, trying to become a mid-Atlantic technology hub. Initiatives include the foundation of a tax-free Special Economic Zone for Technology to attract international companies and the development of data centers to improve IT infrastructure.
Aviation industry: The aviation sector is important for connecting the island and simplifying tourism. Efforts are ongoing to improve airport infrastructure and services to adjust to increasing passenger numbers and improve regional connectivity.
Medical industry: The healthcare sector is strategic in improving medical infrastructure and services. Investments are being made in advancing hospitals, training healthcare experts, and expanding the interface to medical care across the country.
Automotive industry: While the automotive industry is comparatively small, there is a growing demand for vehicles due to economic development. Growing demand supports import opportunities and supply of vehicles, as well as the establishment of maintenance and repair services.
DID YOU KNOW?
Real gross domestic product (GDP) growth in Cape Verde was forecast to decline by 0.3 percent between 2024 and 2029. Growth is projected to remain at  4.46 percent in 2029.
