The State field when placed in a form keeps values every time we use it but the country field we have had to add values each time we create a form. This has been painful as we have had a few changes of list with removing embargo countries, matching SFDC list and I have to open all forms and update the country list values.
It would be great when you get around to developing this that it 1. stores display values for other languages and 2. allows user when building a form with country field to select which language applied to the form.