Free trade

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Free trade

Iceland, Liechtenstein, Norway and Switzerland are members of EFTA. The EFTA Convention established a free trade area among its Member States in 1960. In addition, the EFTA States have jointly concluded free trade agreements with a number of countries in Central and Eastern Europe as well as in the Mediterranean region, Mexico and Singapore.

Iceland, Liechtenstein and Norway entered into the Agreement on the European Economic Area (EEA) in 1992, which entered into force in 1994. The current contracting parties are, in addition to the three EFTA states, the European Community and the 15 EC Member States.

In addition Iceland has bilateral agreements with its two neighbouring countries Greenland and the Faeroe Islands.

Originating products within the meaning of the EEA Agreement (the European Economic Area), EFTA Convention, the Agreement between EEC and Iceland and other free trade agreements between Iceland and other countries are eligible for preferential treatment (duty free importation) upon submission of the following documents:

  • Eur 1, movement certificate, or
  • an invoice bearing the exporter's declaration made out by any exporter for any consignment consisting of one or more packages containing originating products whose total value does not exceed 6000 ECU, or
  • an invoice bearing the exporter's declaration made out by an approved exporter. The invoice must have a reference to the approved exporter's authorization number.

The declaration shall be stamped, printed or typed on the invoice/invoices. Approved exporters are authorised not to sign the statement, when such invoices are made out and/or transmitted using telecommunications or electronic data-processing methods. The declaration to be made on the commercial invoice is as follows:

The exporter of the products covered by this document (customs authorization No............(1)) declares that, except where otherwise clearly indicated2), these products are of EEA3)/EEC3)/EFTA3)/certain country3) preferential origin


(Place and date)

(Signature)

  1. When the invoice declaration is made out by an approved exporter, the authorization number of the approved exporter must be entered in this space, When the invoice declaration is not made out by an approved exporter, the words in brackets shall be omitted or the space left blank.
  2. If the invoice includes non-originating goods, they must be clearly indicated.
  3. The country or group of countries depending on which free-trade agreement the duty-free import is based on.

 

 


 

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