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Iceland-China Free Trade Agreement Effective July 1

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Iceland-China Free Trade Agreement Effective July 1

Alþingi, Iceland's parliament

Alþingi, Iceland's parliament. Photo: Páll Kjartansson.

A free trade agreement between Iceland and China will take effect on July 1 after the process of implementing the agreement into law was completed.

Iceland is the first European country to sign a Free Trade Agreement (FTA) with China.

Foreign Minister Gunnar Bragi Sveinsson said in a statement that the agreement presented Iceland with many opportunities. Icelandic companies would also be given a head start on the rapidly growing Chinese market.

Gunnar will visit China along with a trade delegation at the end of June. Iceland will also open a new embassy in Beijing.

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