fríverslunarsamninginn

Fríverslunarsamningurinn is the Icelandic term for a free trade agreement. These agreements are established between two or more countries to reduce or eliminate tariffs, quotas, and other trade barriers on goods and services traded among them. The primary goal of a free trade agreement is to promote economic integration and increase trade volumes between the participating nations.

Iceland has been a party to several significant free trade agreements throughout its history. A notable example is its membership in the European Economic Area (EEA) agreement, which, while not strictly a bilateral free trade agreement, provides Iceland with extensive access to the European Union's single market. This arrangement facilitates the free movement of goods, services, capital, and people between Iceland and EU member states, significantly impacting Iceland's trade patterns.

Beyond the EEA, Iceland has also engaged in bilateral and multilateral free trade agreements with countries outside the EU. These agreements often focus on specific sectors or aim to create broader economic partnerships. The terms of each agreement vary, detailing the specific goods and services covered, the timeline for tariff reduction, and provisions for dispute resolution. The overall impact of these agreements on Iceland's economy includes increased export opportunities, greater consumer choice, and potentially lower prices for imported goods.