EFTA and UK agree free-trade deal
The agreement provides mutual access to all the countries’ markets for goods and services, as well as public procurement. The contract negotiations started formally in September and a temporary agreement has been in operation since 1st January when the UK cut its ties with the European Union.
In a ministry statement, the Minister for Foreign Affairs, Guðlaugur Þór Þórðarson says a free-trade agreement with the UK has been one of the priority tasks of his time at the ministry.
“I have put a lot of emphasis on ensuring a good future relationship with the UK after its exit from the European Union and I am convinced that this contract will strengthen the economic and friendship ties between Iceland and the United Kingdom for a long time to come,” Guðlaugur Þór says.
The contract includes stringent commitments in several fields, including working rights, emissions cuts, and environmental protection. It also includes a dedicated chapter on equality and the empowerment of women in business. It is the first time such a section is included in a free-trade agreement Iceland enters into.