A free trade agreement between EFTA and the Southern African Customs Union is scheduled to be signed at the end of November this year and to become active in the beginning of the year 2006. The Southern African Customs Union includes South Africa, Namibia, Leshota, Botswana and Swaziland. The European Union has only concluded a free trade agreement with South Africa so far which will become active next year. And negotiations with more countries are scheduled or ongoing including Thailand, the United States and Canada.
Furthermore a free trade agreement between Iceland and China is being negotiated, as mentioned earlier on this website, and negotiations about such an agreement are also underway with South Korea. Finally during the recent official visit by the president of India, Mr Abdul Kalam, to Iceland ideas about a free trade agreement between Iceland and India were aired gaining positive attitude from both sides.
Previously Iceland has signed free trade agreements with 14 countries around the world through EFTA including Bulgaria, Chile, Croatia, Israel, Jordan, Morocco, Mexico, Romania, Singapore and Turkey. All these agreements, and the ones currently being negotiated, would expire if Iceland would join the EU.
A free trade agreement between Iceland and China being prepared