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All-around exchanges and cooperation have been steadily developing since the establishment of diplomatic ties between Iceland and China, leading to many important bilateral agreements that creates solid legal ground for enhanced cooperation:

- Bilateral Trade Agreement between the Government of China and the Government of Iceland (1987)

- Agreement between the Government of China and the Government of Iceland for Protection of Investments (1994)

- Cultural Agreement between Iceland and China (1994)

- Agreement between the Government of China and the Government of Iceland for Receiprocal Avoidance of Double Taxation (1996)

- Agreement between the Government of China and the Government of Iceland Relating on Civil Air Transport (2003)

- Memorandum of Understanding on Visa and Related Issues Concerning Tourist Groups from China (ADS) (2004)

- Memorandum of Understanding on Strengthening the Economic and Trade Cooperation between Iceland and China (2005)

- Memorandum of Understanding on Environmental Cooperation between Environmental Protection Bureau of China and the Ministry for Environment of Iceland (2005)

- Memorandum of Understanding on Earthquake Research Cooperation between Earthquake Administration of China and Ministry for Environment of Iceland (2005)

- Protocol on Starting China-Iceland Free Trade Agreement Negotiation between the Ministry of Commerce of China and the Ministry for Foreign Affairs and External Trade of Iceland (2006)

- Cultural Exchange Programme for the Period 2007-2010 between the Government of China and the Government of Iceland (2006)

 

 

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Bilateral cooperation reached a new height in 2007.  As the first European country recognizing the market economy status of China, Iceland started the Free Trade Agreement negotiation with China.

On 16 April 2013, Iceland became the first FTA partner for China in Europe with the signing of FTA agreement in Beijing on the occassion of the official visit of the Icelandic Prime Minister Johanna Sigurdardottir.  This agreement of 6-year effort comes into force on 1 July 2014, leading to greater bilateral trade and closer economic cooperation between the two countries.

A number of cooperation MOU and protocols on Icelandic fishery and agricultural products to China have been signed over the years, including Icelandic  lamb, fishmeal and oil and new seafood species such as Atlantic Salmon, Arctic Charr and rainbow trout. 

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Signing of Iceland-China Free Free Agreement

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Signing on Icelanidc Lamb Products to China

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