- Minister Address - Össur Skarphéðinsson, Minister of Foreign Affairs and External Trade
The vast differences between Iceland and China in population, size, geographic location, culture and history provide the basis for a prosperous relationship. They are the driving forces behind the growing trade ties between Iceland and China. Trade, after all, celebrates difference.
China’s contribution to global commerce and growth is now on full display at the Shanghai Expo. This is a fitting and welcome tribute for China’s remarkable emergence as an engine of global economic growth and prosperity. My government has placed great emphasis on participating actively in the Expo’s success, and cultivating our trade ties in the process.
Today, China is Iceland‘s most important trading partner in Asia. Iceland exports goods, services and know-how to China in areas such as geothermal energy and fisheries. In return, China exports a broad range of products and manufactured goods to Iceland. Our companies are increasingly turning to China for investment, processing and manufacturing opportunities. Collaborative ties are being forged through the broader global supply chain, combining, for example, Icelandic design with Chinese production.
The growth of our bilateral trade relations has been fostered and facilitated by strong diplomatic ties, one that is based on friendship and mutual respect. This will certainly serve us well in the coming years, as we address common challenges of the 21st century.
Iceland has certainly had its share of difficulties following the global financial crisis of October 2008. A necessary period of self-reflection and readjustment has taken place, with a renewed emphasis on the very fundamentals which fueled Iceland’s development from poverty to prosperity in the last century. For Iceland, this means building a future based on clean and abundant renewable energy, the sustainable use of natural resources and harnessing the creativity of our dynamic and well-educated population.
The key to recovery, prosperity and stability does not lie in protectionism or isolation - it lies in openness and mutually beneficial cooperation. These are the very ideals that unite us.
Made-in-Iceland Project is a good initiative to present more Icelandic unique products and services to the Chinese market, thus creating more common grounds for further trade and economic cooperation between Iceland and China. We have full confidence that both countries shall only be benefited from the increased trade and economic relations, and we warmly welcome our Chinese partners to join us in this process.