What would EU membership mean for tariffs and market access?

What would EU membership mean for tariffs and market access?

Upon membership, Iceland would become part of the EU customs union and all tariffs on imports from EU member states would be lifted.

Only 68% of fish product exports from Iceland currently enter the EU tariff-free, compared with 98% at the time the EEA Agreement was concluded in 1994. Tariff payments on fish products exported to the EU amounted to just over ISK 1.4 billion in both 2023 and 2024. Processed fish products carry the highest tariffs, and membership would create opportunities for greater processing in Iceland.

The EU's free trade network covers approximately 70 countries, while Iceland's free trade agreements cover 55 countries. The EU has a free trade agreement with the United Kingdom providing for full tariff elimination; Iceland still pays tariffs on certain fish products exported to the UK.