Iceland signs first European free trade pact with China

Iceland on 15 April 2013 became the first European country to sign a free trade agreement with China after six years of negotiations.

A joint-statement noted the two sides want 'to enhance their exchange and practical co-operation on the Arctic' and 'further deepen their mutually beneficial co-operation in the fields of trade and investment'.

China is now Iceland’s fourth biggest importing country and the biggest trading partner in Asia. The deal could see an additional boost to the trade figures as Iceland continues to recover from a banking sector that collapsed in 2008 and saw its economy in ruins.

• Primary Source

ESO: Background Information: Iceland’s president welcomes Chinese interest http://www.europeansources.info/record/icelands-president-welcomes-chinese-interest/

Morgunblaðið / The Wall Street Journal Europe / Trouw, 16.04.13: Reykjavik pioneers free-trade with Beijing http://www.presseurop.eu/en/content/news-brief/3682441-reykjavik-pioneers-free-trade-beijing

The Guardian, 17.04.13: China should have a say in the future of the Arctic - Iceland President http://www.guardian.co.uk/environment/2013/apr/16/china-future-arctic-iceland

Iceland: Ministry of Foreign Affairs: Press Release, 15.04.13: Iceland First European Country to Sign Free Trade Agreement with China http://www.mfa.is/news-and-publications/nr/7655

Iceland: Ministry of Foreign Affairs: Fact Sheet on Free Trade Agreement between Iceland and China http://www.mfa.is/media/fta-kina/China_fact_sheet_enska_15042013_Final.pdf

Iceland: Ministry of Foreign Affairs: Text of Free Trade Agreement between Iceland and China http://www.mfa.is/foreign-policy/trade/free-trade-agreement-between-iceland-and-china/

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