Free Trade Agreement between China and Iceland

The free trade agreement between China and Iceland entered into force in 2014. It provides for the reduction or elimination of import tariffs on most industrial and energy sector products, including : 

• Electric motors, turbines and generators; 
• Mechanical equipment including pumps, appliances, and other advanced machinery; 
• Electric accumulators, transformers, capacitors, batteries; 
• Motor vehicles; 
• Mineral ore, slag and ash; 
• Mineral fuels, oils and other products; 
• Metals and their articles e.g. iron and steel; 
• Semiconductors devices and photovoltaic cells 

Rule of origins apply. In order to qualify for the preferential tariff treatment, products need to be wholly sourced or produced in one of the signatory countries, or have undergone there a significant production process incorporate non-originating materials valued at less than 40-50 % of the ex-works final price<

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