Tariff agreement between Iceland and EU put off Skip to content

Tariff agreement between Iceland and EU put off

Representatives from Iceland and the EU met at the end of last year to discuss a change in an agreement regarding tariffs on agricultural products imported to Iceland, which was supposed to take effect on January 1.

Foreign Minister Valgerdur Sverrisdóttir told Morgunbladid that Iceland had requested that the agreement [about the lowering of tariffs on imported agricultural products, which was reached last summer] would not take effect until March 1. On that day a general reduction of food prices in Iceland is scheduled to happen.

Sverrisdóttir said that a temporary agreement about the delay had been reached at the meeting, which will be submitted to the member countries of the EU in mid-January. At the meeting, both parties had suggested further changes to the agreement, the foreign minister said.

Yesterday’s reports revealed that food prices in Iceland are 62 percent higher than the average price of food within the “old” EU and that the main reason is high tariffs on imported agricultural products.

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