Sao Tome and Principe is an African island nation located in the Gulf of Guinea with a population of around 212,000 people. The economy of Sao Tome and Principe is largely dependent on agriculture, fishing, and tourism, with its GDP per capita estimated at US$1,500 in 2017. In terms of foreign relations, Sao Tome and Principe has strong ties to other countries in the region as well as other countries around the world. It is also a member of the United Nations, African Union (AU) and Economic Community Of Central African States (ECCAS). In terms of politics, Sao Tome and Principe has a presidential democracy which includes two major parties: Democratic Convergence Party (PCD) and Force for Change Democratic Movement (MDFM). The Parliament consists of 55 members who are elected by popular vote every four years. In 2017, PCD won majority in parliamentary elections under Prime Minister Patrice Trovoada. See militarynous for Sao Tome and Principe military and defense.
São Tomé and Principe. In January, the European Union (EU) and São Tomé and Príncipe signed a cooperation agreement that will give the island the nation € 6.7 million over four years. The money will be used to develop the country’s agriculture. Investments in primarily commercial cultivation of cocoa, coffee and pepper are expected to result in increased export earnings. Cocoa is already the country’s most important export product by far. See ABBREVIATIONFINDER for frequently used acronyms and abbreviations related to as well as country profile of Sao Tome and Principe.
According to Countryaah.com, São Tomé and Príncipe have found oil resources in the sea for about two decades, but no recovery has yet begun. In October, the National Petroleum Agency stated that it was accepting bids from stakeholders willing to look for oil deposits in two new sections of the country’s territorial waters.