Opening of a Business fair from Newfoundland and Labrador in Perlan Reykjavik.
Minister, dear guests,
I am very happy to be with you all here to day. It is not everyday that we have such prominent representatives from our dear neighbors in the west, Newfoundland and Labrador. No less than 20 firms are showcasing their products and services here today. From what I have seen so far, these are all quite interesting offers for us Icelanders.
After discussion the countries relationship and cooperation with Minister Traver Taylor earlier today, I am also aware of the great interest Newfoundlanders have for increased cultural, trade and investment relations. I agree that the scope for cooperation is considerable and I myself have great expectations for the future in this respect.
In these modern times where communication is easier and cheaper than ever, people tend to underestimate the importance of direct face-to-face communication. Business fairs, direct contacts between governments and other types of personal interaction is far from obsolete.
On that note, I think it vital for future cooperation that we secure excellent transport links between our countries. Newfoundland and Labrador are relatively close to Halifax, which is a major hub in Iceland’s transport services to Canada as a whole. Both in terms of shipping and air transport. Still, direct flights between Reykjavik and St. Johns would be an optimal arrangement. I know that such options are currently being considered by Icelandair, following the Open Skies agreement between Canada and Iceland, and look forward to the results of their inquiries.
From my perspective the option seems viable, where Newfoundlanders and their visitors from Europe would greatly benefit from the broad selection of destinations Icelandic airlines offer in Northern Europe.
A direct connection between St. Johns and Reykjavik would not least be important for tourism. While our two countries may at times be seen as competitors for adventure-seeking tourists, I belief that the scope for cooperation, and the benefits of mutual market access is more important.
On a more general note, it is worth mentioning the new Free Trade Agreement between the EFTA countries and Canada that was concluded in June this year. The agreement, which of course encompasses Iceland, Newfoundland and Labrador, creates multiple openings for increased trade between the countries.
Unfortunately the agreement is limited in scope, and does not include substantial obligations in areas such as services, intellectual property and investment. Investment has already become an important field of cooperation between our countries, particularly in fisheries. At present such cooperation is only one-directional as Iceland has stipulated limitations to foreign investment in fisheries. Recently I appointed a broad committee to oversee and amend Icelandic legislation on foreign investment. Unfortunately it is too early to say anything about the likely outcome of this policy review.
Ladies and gentlemen.
I have noted with particular interest and pleasure that the Organization of Women Entrepreneurs in Newfoundland and Labrador are participating in this exhibition. Increased participation of women in business and management is an issue of priority, and all positive steps in this area are most welcome.
I would like to express my thanks to the organizers of this business fair, both Icelanders and Newfoundlanders. The timing of this exhibition could not be better, as conditions for increased trade between the countries have improved dramatically this year, primarily due to the Open Skies agreement and the before mentioned Free Trade Agreement. With these formal arrangements I think we can build a strong relationship on the basis of our cultural similarities and like-mindedness.