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In March 2021, Iceland’s Minister of Fisheries and Agriculture announced his intention to allocate ISK 970 million ($7.5 million) in financial support for Icelandic sheep and cattle farmers.
On June 28, 2019, the European Union became the first major partner to strike a trade agreement with the Southern Common Market (or MERCOSUR) countries of Argentina, Brazil, Paraguay, and Uruguay.
On September 17, 2015, Iceland and the EU reached an agreement to reduce agricultural tariffs and increase meat and dairy quotas.
The Philippines and Member States of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway, and Switzerland – signed a comprehensive Free Trade Agreement (FTA) on April 28, 2016.