On December 18, 2020, the fourth meeting of the Joint Committee of China Iceland free trade zone was held by video. The Ministry of Commerce of China and the Foreign Ministry of Iceland respectively led and formed a delegation from both sides.
The meeting comprehensively reviewed the implementation progress of the China Iceland FTA, fully affirmed that since the establishment of the FTA, the two sides have effectively deepened cooperation in trade in goods, services, investment, economy and technology, and promoted economic and trade relations between the two countries to a new level. The two sides also novel coronavirus pneumonia experience, and stressed the importance of implementing FTA under the epidemic situation, thus ensuring free flow of commodities and stability of supply chain.
China and Iceland agreed to continue to carry out anti epidemic exchanges, work together to overcome the epidemic situation, jointly support free trade and multilateralism, give full play to the role of the FTA, maintain the stability of the bilateral industrial chain supply chain, and promote the economic development of both sides. At the same time, we should strengthen publicity and training to make the preferential policies of FTA benefit more enterprises and people of both countries. China Iceland free trade agreement is the first free trade agreement signed between China and European countries. It has the characteristics of wide coverage and high level of openness, and came into effect on July 1, 2014.
