Iceland and Russia Discuss Trade and Economics Skip to content

Iceland and Russia Discuss Trade and Economics

A consultative meeting on trade and economics between Icelandic and Russian delegates took place at the Icelandic Ministry for Foreign Affairs on Friday, among other reasons to further trade between the two countries.


Martin Eyjólfsson (second to the left), divisional manager of trade at the Icelandic Foreign Ministry, who moderated the meeting on Friday. Courtesy of the Foreign Ministry.

At the meeting issues that were discussed between Icelandic Foreign Minister Össur Skarphéðinsson and his Russian counterpart Sergey Lavrov in November were followed up on, including increased cooperation in innovation, technological development and science, a press release states.

Energy cooperation between the two countries is considered to be successful; Russian energy experts will study in Iceland in the autumn of 2012 and Russian authorities are keen on participating in a conference by the Icelandic Geothermal Research Group next year.

The bilateral trade agreement between Iceland and Russia was also discussed. In 2011, 3.1 percent of Iceland’s exports went to Russia, since then it has increased threefold, primarily because of increased mackerel export to Russia.

Click here to read more about Icelandic and Russian affairs.


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