Canada - Iceland Relations

Bilateral relations

Canada's relations with Iceland began over one thousand years ago when Icelandic explorer Leif Eriksson landed in L'Anse aux Meadows in Newfoundland. Canada is home to the largest population of Icelandic immigrants (and their descendants) outside Iceland. Canada and Iceland enjoy solid relations founded on people-to-people links, and common values that underpin cooperation in multilateral organizations, in support of free trade, peace and security, human rights, climate and environment protection and the promotion of gender equality. Canada is represented in Iceland through our Embassy in Reykjavik. In Canada, Iceland maintains an Embassy in Ottawa, Consulates General in Toronto and Vancouver, and Honorary Consulates in Calgary, Charlottetown, Edmonton, Montréal, Halifax, Moncton, Québec, St. John’s and Winnipeg.

Trade

Canada-Iceland bilateral trade has grown since the implementation of CEFTA on July 1st, 2009. This goods-focused agreement reflects our shared commitment to an open, transparent and rules-based international trading system. Bilateral merchandise trade between Canada and Iceland was $152 million in 2020. Canadian exports of goods to Iceland, which amounted to roughly $68 million in 2020, were led by consumer products (50.2%), motor vehicles and parts and metal and non-metallic mineral products. In 2020, Canada imported $84 million worth of merchandise from Iceland, led by consumer products; farm, fishing and intermediate food products; and industrial machinery, equipment and parts. Sectors of opportunity include fisheries, climate research and clean technologies, aquaculture/agri-food innovation and research.

Multilateral partnerships

Trade and investment agreements