A new Ocean Cluster Analysis describes how a free trade agreement between Iceland and Greenland could strengthen the business cooperation between the nations.

  • A new study by the Iceland Ocean Cluster reveals that Iceland operates a larger transportation network in the Arctic than any other nation. In fact, Iceland is the only country in the world offering regular shipping and transportation to every country within the Arctic.
  • The activities of Icelandic businesses in Greenland cover a wide range and there is evidence that within a large part of Iceland’s export businesses, a strategy to increase business with Greelanders is in place. This is revealed by a mapping of  business activities of Icelandic companies in Greenland, conducted by the Iceland Ocean Cluster.
  • A free trade agreement is necessary if the countries are to further evolve their successful business cooperation. Is could be possible to base such an agreement on the extensive Hoyvik Agreement between Iceland and the Faroe Islands, as Greenlanders have followed its execution from beginning.