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China is Now the Second Largest Supplier for Iceland | Dialogue with Diplomats

By JAMES ALEXANDERSHIHAN YANGDENG ZHANGICHONGQING|Jul 29,2022

Chongqing– Iceland hosted an exhibition booth in the International Cooperation Hall at WCIFIT 2022, where they displayed seafood, woolen garments, and innovative cosmetic products on sale to Chinese consumers. During an interview with trade representative Yang Li of the Icelandic Embassy in China, he discusses bilateral trade and cultural exchange, his expectations for WCIFIT, and the importance of China to the Icelandic economy.

This is the second year in a row that Iceland has attended WCIFIT, and for this edition, they expressed their ambition and confidence by bringing more companies and products. Additionally, trade representatives are excited by the new discussion topic of e-commerce for the event, which Yang describes as a “good development showing the ambition Chongqing has in growing the regional economy.”

Iceland was the first European country to sign a free trade agreement with China. In the ten years since, China has become their second largest supplier and ninth-largest overseas market, where demand has grown for seafood, woolen garments, chocolate, and cosmetics produced in Iceland.

Meanwhile, active cultural exchange has led thousands of Chinese students to learn Icelandic at Beijing Foreign Studies University, while universities in China and Iceland have many exchange programs. Additionally, there were 100,000 visits to Iceland made by Chinese tourists in 2019, and the two nations have multiple collaboration projects in geothermal energy and low carbon.

In conclusion, Yang comments how the WCIFIT conference is growing like the economy of Chongqing and China, allowing Iceland to understand the future potential for their products in the region. “I’m looking forward to touring the exhibition during my stay to learn where we stand in this drive towards economic prosperity.”

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