China and Iceland start free trade talks Skip to content

China and Iceland start free trade talks

Representatives from Iceland and China met in Beijing on Wednesday to discuss a potential free trade agreement between the two countries, as announced by China’s Ministry of Commerce.

Wang Xinpei, spokesperson for the ministry, said the first stage of the discussions includes negotiations on trade in goods, services and other sectors, China People’s Daily Online reports.

“We hope the first round of talks will yield positive results through joint efforts from the two sides,” Wang said.

Wang added that the proposed free trade agreement has a potential impact on bilateral economic and trade relations between Iceland and China.

Gunnar Snorri Gunnarsson, Iceland’s ambassador to China, said in an earlier interview with People’s Daily that he expected the agreement to be comprehensive and to cover trade, services and investments.

Iceland was the first European country to grant China market economy status.

China’s exports to Iceland in 2006 were worth USD 77.67 million (EUR 57.41 million), while imports from Iceland and China amounted to USD 39.99 million (EUR 29.56 million).

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