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Business and Trade

Bilateral Trade Relations Iceland - Germany

Bilateral trade relations between Iceland and Germany are close, and Germany is one of the key trading partners of Iceland. Exports base on a few pillars; with aluminium by far the largest share, and seafood accounting for about 20%. Imports from Germany cover a wide range of goods, with machinery and transport equipment holding the largest share.

Tourism is blooming and has become a pillar of Iceland´s economy and the bilateral relations. About 40.000 German tourists visit Iceland each year. In terms of length of stay, and overnight stays in hotels and guesthouses, Germany is leading.

Direct foreign investments are negligible.

Icelandic culture has an excellent image in Germany, with literature and music being the key pillars. Iceland will be guest of honour at Frankfurt Book Fair 2011.

The Overseas Business Services (OBS) was established in 1997 as part of the Icelandic Foreign Service. Its main task is to coordinate the work of trade counsellors in Icelandic Embassies around the world. It aims to meet demands of Icelandic firms concerning business opportunities abroad.

Supporting the foreign expansion of Icelandic companies

The OBS works with Icelandic business organizations, including the Trade Council of Iceland. The OBS works at strengthening the competitive position of Icelandic companies on international markets by providing specialised commercial services in Icelandic embassies.

OBS advisers can open doors for companies in the relevant regions, inter alia by assisting them to overcome difficult culture and language problems in different markets.

Specialized trade counsellors are posted in six embassies abroad, i.e. in the USA, Great Britain, France, China, Russia and Germany. Additionally, core trade services are provided in the embassies in Belgium, Finland, Norway, Denmark and Sweden.

Services provided by the OBS

Tariffs and duties

  • Rules of origin
  • Establishing a business in Germany,Poland, Switzerland, Croatia
  • Contact and communication with authorities
  • Information about technical and any other trade barriers
  • Market information from public sources

Consulting

  • Partner search, Networking
  • PR and marketing events
  • Trade delegations
  • Information on potential partners for cooperation
  • Exhibitions and trade-related events

Special services

  • Listing of companies and business contacts
  • Arrange business meetings and follow-up
  • Business-watch

Contact info

For more information contact:

Ruth Bobrich, Trade Representative, ruth@mfa.is

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