The 4th Session of China-Iceland FTA Talks was held in Iceland from April 28 to 30, 2008. Jon Sigurdsson, the Minister for Trade and Industry of Iceland met with Chinese delegation group.

Chinese delegation group, which consisted of Ministry of Commerce, Ministry of Finance, Ministry of Agriculture, General Administration of Customs and General Administration of Quality Supervision, Inspection and Quarantine, discussed with the Iceland side thoroughly on the issues such as good trade, trade in services, investment, economic cooperation and text of the agreement. The talks gained positive achievements.

China is one of the most important trade partners of Iceland in Asia. The bilateral trade volume amounted to US$130 million in 2007, up by 9% year-on-year. Among which China’s export and import hit US$92.23 million and US$35.65 million respectively. China-Iceland cooperation mainly focused on the sectors of fishery, geothermal heat and vessel building. China-Iceland FTA talks was launched in December 2006.