OVERVIEW OF BILATERAL RELATIONS

BETWEEN VIET NAM AND ICELAND

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I.         Political relations

Viet Nam and Iceland established diplomatic relations on 5^th August 1973.

          The Ambassador Extraordinary and Plenipotentiary of Iceland to Beijing is concurrently assigned as Ambassador to Viet Nam as well. Iceland has actively supported Viet Nam during her struggle for national liberation.                                                                                                                                                                                                                                        

          On 9th December 2010, the new Icelandic Ambassador to Beijing, China and also the concurrently-assigned Ambassador to Viet Nam, Mrs. Kristin A. Arnadottir presented credentials to Vietnamese President Nguyen Minh Triet. During the meeting with the President, Mrs. Kristian A.Arnadottir says that she will pay much attention to the promotion of bilateral relations between Iceland and Viet Nam during her tenure.

II.       Trade and economic relations

The economic ties between the two countries have seen very slight progress and still in the initial process of getting to know each other. The main Vietnamese export to Norway consist of textile and footwear, shoes, seafood, wooden products, handicrafts while Viet Nam imports from Iceland are materials for seafood processing, meat produce and some equipment. The bilateral trade turnover from 2006 to 2010 remains modest.

          Bilateral trade turnover from 2006 to 2010

                                                                                                unitị: million USD       

                                                             (Source: Viet Nam Customs Agency)

On 15/6/1995, the Governor of Icelandic bank and other 9 Icelandic entrepreneurs came to Viet Nam to discuss on the bilateral fishery cooperation.

          In April 2002, Icelandic Prime Minister David Oddsson visited Viet Nam and signed the Double Tax Avoidance Agreement with Viet Nam and MOU on the Announcement of reciprocal benefits in facilitating the economic ties between the two countries. The two sides agreed to initiate a negotiation on signing an Investment Agreement.

          In September 2002, former Prime Minister Phan Van Khai visisted Iceland and signed Investment Promotion and Protection Agreement with Iceland.

          Since 2010, the two countries still hold negotiations on signing an Agreement on aviation transportation.

III.              Vietnamese community in Iceland :

There are around 1000 Vietnamese in Iceland, residing mostly in the capital city. A number of them come from the North of Viet Nam in the early 80s and have been naturalized in Iceladic nationality. However, according to Icelandic regulations, a naturalized Icelandic citizen is allowed to hold dual-nationality; therefore, these people can still keep and use Vietnamese passports.

Most of  Vietnamese in Iceland are leading a decent and stable lives and not vulnerable to the negative effects of the financial crisis. These overseas Vietnamese keep themselves update with the current situtation in Vietnam via VTV4 and are eager and happy about the country’s achievements and the recent state policy towards the overseas Vietnamese. 

April 2011