EU and Iceland further liberalise trade in food and agricultural products
27/04/2018 - 16:41
New agreements giving greater market access and protection for EU agri-food products in Iceland enter into force on 1 May.
Agreements giving greater market access and protection for EU agri-food products in Iceland will enter into force on 1 May.
The agreements will increase the duty-free access to Iceland's market from 66,4% to more than 95% of EU agri-food products, and offer protection in Iceland to 1150 names registered as EU geographical indications. The improved market access covers the vast majority of EU agricultural products, including beef, pig meat, poultry and cheese for which quotas will be substantially increased.
The EU has also increased or established quotas for many of these same products from Iceland, as well as for the typical Icelandic dairy product skyr.
The processed food products set to benefit from the new liberalisation account for more than €27 million in exports from the EU to Iceland each year.
The three agreements were signed in September 2015 and were formally adopted by the European Parliament and the Council.