Free Trade Agreement signed.

The most important step in Icelandic-Indian trade relations was taken when a Trade and Economic Partnership Agreement (TEPA) between the EFTA states (Iceland, Liechtenstein, Norway and Switzerland) and India was signed in New Delhi on 10 March 2024. Foreign Minister Bjarni Benediktsson signed the agreement on Iceland’s behalf. This comprehensive agreement covers key areas – including market access for goods and services – that will facilitate more trade, investment and economic cooperation between Iceland and India. "This Agreement holds great significance for Iceland's trade and economic relations with Asia, creating a solid foundation for future trade with India," says Minister Benediktsson. "Moreover, it strengthens the political ties between Iceland and India, the world's most populous democracy, with the fifth-largest economy globally, which is continuously growing."

See:

Government of Iceland | EFTA states and India sign Trade and Economic Partnership Agreement

EFTA and India sign Trade and Economic Partnership Agreement | European Free Trade Association