Exstensive work on formulating Iceland’s negotiating objectives was carried out in preparation for and in connection with the 2009 – 2013 accession negotiations. The explanatory notes accompanying the parliamentary resolution which was adopted by the Althing on EU membership at the 137th legislative session in 2009 identified the following among Iceland's fundamental interests:
- To ensure national sovereignty over water and energy resources and their management.
- To ensure national sovereignty over fisheries resources, sustainable use of those resources, and a share in jointly managed stocks, as well as the broadest possible representation in international fisheries agreements.
- To ensure a strong Icelandic agricultural sector grounded in food security and food safety.
- To ensure the democratic right to manage public services on the basis of social need.
- To protect the rights of workers and labour law.
- To achieve a competitive and growth-friendly business environment in Iceland while safeguarding special provisions reflecting Iceland's particular circumstances.