WORLD TRADE  
ORGANIZATION  S/DCS/W/ISL 
24 January 2003 
 (03-0471) 
Trade in Services Original:   English 
 
 
   
ICELAND 
 
Draft consolidated Schedule of Specific Commitments1 
 
 
 Attached is a draft consolidated version of the Schedule of Specific Commitments of Iceland 
in word format.  This document  does not substitute for the legally binding commitments undertaken 
by Iceland in its Schedule of Specific Commitments (GATS/SC/41; S/L/29; GATS/SC/41/Suppl.1; 
GATS/SC/41/Suppl.2 ). 
 
 Attached to the draft consolidated schedule is Iceland's Article II (MFN) Exemption List 
(GATS/EL/41) in word format. 
 
 The draft converted versions of the Schedule was prepared by the Secretariat, at the request of 
Members, to facilitate the process of negotiatio ns, including the presenta tion of initial offers. 
 
 
_______________ 
 
 
                                                            
1 This document has been prepared, in English only, under the Secretariat's own responsibility and without prejudice to the 
positions of Members and to their rights and obligations under the WTO.   S/DCS/W/ISL 
Page 2 ICELAND – SCHEDULE OF SPECIFIC COMMITMENTS 
Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
I. HORIZONTAL COMMITMENTS  
 ALL SECTORS 
 INCLUDEDIN THIS 
 SCHEDULE     
 3) All foreign investment and currency transfers  
 must be reported to the Central Bank of  
 Iceland 
  Investment by non-residents in the  
 manufacturing industry, other than power- 
 intensive industry, trade services,   communications and fish farming may not  
 exceed 25% of the total investment of the  
 relevant sector without special permission.  3) Treatment accorded to subsidiaries of third- 
 country companies formed  in accordance with  
 the law of an EEA Member State and having  
 their registered office, central administration or   principal place of business within an EEA  
 Member State may not be extended to branches  
 or agencies established in an EEA Member   State by a third-country company   
 
  Total investment by a non-resident or the joint  
 investment of financially related non-residents 
 in enterprises in the above-mentioned sectors   may not exceed 250 mill. ISK within a year  
 unless a special concession is given  Treatment less favourable may be accorded to  
 subsidiaries of a third-country company formed  
 in accordance with the law of an EEA Member   State having only their registered office in the  
 territory of an EEA Member State unless they  
 show that they possess an effective and   continuous link with the economy of one of the  
 EEA Member States  
 
  All foreign investment of a Foreign State or  
 companies/organizations owned by a Foreign   State requires a special concession of the  
 Ministry of Commerce   
 Managers and the majority of the members of   the board of directors in all domestic enterprises 
 must be  domiciled in Iceland unless exempted  
 from this requirement by the Ministry of   Commerce 
  
  Non-residents cannot conclude an agreement  
 on real-estate lease without the permission of  
 the Ministry of Justice if the lease is for a  
 period exceeding three years and not for use in  conducting its normal business activities  At least one of the auditors of an Icelandic  
 limited liability company must be a resident in  
 Iceland or a competent resident CPA company     S/DCS/W/ISL
 Page 3Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
  Non-residents may only acquire real estate in  
 conjunction to their business activities and can  only obtain ordinary proprietary rights linked  
 to the real estate 
  Non-residents are thus excluded from  
 obtaining full property rights of real estate if  
 unusual rights are linked to it, such as   exploitation rights as regards waterfalls,  
 geothermal energy, etc  
 
 
  Contracts concerning ownership and long- 
 term use of real-estate by non-residents are not 
 valid until the Ministry of Justice has endorsed  it in writing 
 
 Non-residents, natural as well as legal   persons, involved in trade in goods or rental of 
 videos, need a trade permit but such regulated  
 trade licences are required  for both Icelandic   and non-resident providers of service 
  
 
  All provision of services by natural persons,  
 as self-employed or taking part in a business   enterprise with unlimited liability, needs a  
 concession, by the Ministry of Commerce, if  
 the persons involved are non-residents   
 
 
   Movement of Personnel
 
  Temporary entry of service providers 
  Movement of Personnel
 
  Temporary entry of service providers 
   S/DCS/W/ISL 
Page 4 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
 
 4) Unbound except the temporary entry of the  
 following service providers as intra-corporate   transferees, which Iceland shall permit  
 without requiring compliance with labour  
 market tests:  
 Executives
:  persons who primarily direct the  
 management of the organization covered by   the agreement and establish its goals and  
 generally have a wide decision-making  
 authority. Executives would not necessarily   perform tasks related to the actual provision of 
 the service. 
 4) None for the categories offered under market  
 access  
  
  Managers :  persons who direct the  
 Organization covered by the agreement or its   department and are in a senior level  
 responsible of the service providing functions  
 of the organization by supervising and   controlling and having also authority to hire  
 and fire personnel or recommend such and  
 other personnel actions. 
  
 
  Specialists :  persons within the organization  
 who possess knowledge at an advanced level  
 of expertise or otherwise essential or   proprietal to the organization's service,  
 research equipment, techniques or  
 management.  
   S/DCS/W/ISL
 Page 5Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
  
 Service sellers :  persons who as  
 representatives of a service provider covered  
 by the agreement are seeking temporary entry  
 for purposes of negotiation for the sale of   services or entering into agreements to sell  
 services for that servi ce provider, where this  
 selling activity is not directed to the general   public.  
 
  Subsidies1 
 
3) None  
 
 4) None  Subsidies
1 
 
3) Eligibility for subsidies may be limited to   juridical persons established within the territory  
 of Iceland.  Subsidies related to research and  
 development are unbound. 4) Subsidies available only to natural persons may  
 be limited to Icelandic citizens.  
II. SECTOR SPECIFIC COMMITMENTS 
 
I. BUSINESS SERVICES 
 A. Professional Services
 
  
  
  
 
(a) Legal Services (CPC 861) 
    
                                                            
 1 The definition of subsidies remains to be determined in the context of negotiations under Article XV of the GATS.  S/DCS/W/ISL 
Page 6 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
 Legal advice activities on  
 home country law  1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section.  Members of the General Bar   Association of Iceland have an exclusive right  
 to represent clients before all the major courts  
 in Iceland.   
2) None 1),3), 
4) Icelandic law exam or an equivalent thereto,  
 conditions of nationality, or previous residency   of at least one year when practising legal  
 services as a member of the General Bar  
 Association in Iceland   
 
 Legal advice on  
 international law and  
 foreign legal consultancy 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
(b) Accounting, auditing and   book-keeping services 
 (CPC 862) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section. Requirement of residence. Icelandic  
 exam for certified accountants required  
 subject to exemption by the Minister of  
 Finance.  1) None 
2) None 
3) None 
4) None   
 
(c) Taxation services (CPC  
 863) 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None  
(d) Architectural services 
 (CPC 8671)  1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  
 
 1) None 
2) None 3) None 
4) None 
    S/DCS/W/ISL
 Page 7Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(e) Engineering services 
 (CPC 8672) 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
 
(f) Integrated Engineering  
 services (CPC 8673) 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None  
  
 
(g) Urban planning and   landscape architectural  
 services 
 (CPC 8674)  1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None  
  
(i) Veterinary services 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal  
 section.  Number of veterinarians in rural   districts is limited. 
 1) None 
2) None 
3) None 
4) None 
  
(k) Other 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 1) None 
2) None 
3) None 
4) None  
B. Computer and Related  
 Services  
    
(a) Consultancy services  
 related to the installation of   computer hardware 
 (CPC 841) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 3) None 
4) None 
  
  S/DCS/W/ISL 
Page 8 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(b) Software development   
 (including software   implementation) 
 CPC 842) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
 
(c)  Data processing services 
 (CPC 843) 
 1) None 
 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) Concession needed if personal-data is to be  
 processed outside Icelandic jurisdiction 
2) None 
3) None 4) None 
  
 
(d) Data base services 
 (CPC 844) 
 1) None 
 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) Concession needed if personal-data is to be  
 processed outside Icelandic jurisdiction 
2) None 3) None 
4) None 
  
 
(e) Other 
 1) None 
 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) Concession needed if personal-data is to be  
 processed outside Icelandic jurisdiction 
2) None 3) None 
4) None 
  
   S/DCS/W/ISL
 Page 9Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
C. Research and Development  
 Services  
    
(a) R&D services on Natural  
 Sciences (CPC 851) 
 1) None 
2) None 
 
  
3) None 
4) Unbound except as indicated in the horizontal   section 
 1),2) A license is needed for the importation of  
 research equipment.  Natural history specimens  
 must not be exported from the country unless  
 permitted by the Icelandic Museum of Natural   History. 
3),4) No foreigners are permitted to undertake  
 scientific research work in the field of natural   sciences without having first obtained a  
 research permit issued by the Icelandic Council  
 of Science field of natural sciences without   having first obtained a research permit issued  
 by the Icelandic Council of Science 
  
 
(b) R&D services on social  
 sciences and humanities 
 1) None 
2) None 
  
 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1),2) Archaeological finds must not be exported  
 from the country unless permitted by the  
 National Archaeological Council   ("Þjóðminjaráð") 
3),4) All archaeological research whether by  
 Icelandic or foreign researchers is subject to a  
 permit granted by the Icelandic Archaeological   Committee ("fornleifanefnd") 
  
 
(c) Interdisciplinary R&D   services (CPC 853) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
  S/DCS/W/ISL 
Page 10 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
D. Real Estate Services  
    
(a) Real estate services  
 involving own or leased   property (CPC 821) 
 1) None 
2) None 3),4) Deposits or liability insurance to cover  
 loss caused to clients. All licenses to provide  
 services on sales of real-estate are personal   authorizations. 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3),4) Condition of one year previous residency in 
 order to obtain licence to provide services in  
 residential building and land sales, and other   related intermediary services for purchase and  
 sale of real-estate 
  
 
(b) On a Fee or Contract basis  (CPC 822)  1) None 
2) None 3),4) Deposits or liability insurance to cover  
 loss caused to clients. All licences to provide  
 services on sales of real-estate are personal   authorization. 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3),4) Condition of one year previous residency in 
 order to obtain licence to provide services in  
 residential building and land sales, and other   related intermediary services for purchase and  
 sale of real-estate 
  
 
E. Rental/Leasing Services  
 without Operators  
 1) None 
2) None 
3) Leasing services must be provided either by   corporation with a limited liability (leasing  
 companies) or registered commercial banks or  
 savings banks 4) Unbound except as indicated in the horizontal  
 section 
  1) None 
2) None 
3) Majority of the board of a leasing company   shall be resident in Iceland. The manager shall  
 be resident in Iceland and a citizen of a Nordic  
 Country. 4) None 
  
   S/DCS/W/ISL
 Page 11Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(a) Relating to ships 
 (CPC 83103)  1) None 
2) None 3) To be registered in the ship register the ship  
 must be owned by Icelandic natural or  
 juridical persons who are resident in Iceland.   Further nationality restrictions on fishing  
 vessels. 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 3) None 
 
  
 
4) None   
 
(b) Relating to aircraft  (CPC 83104) 
 1) None 
2) None 
3) To be registered in th e aircraft register the  
 aircraft must be owned by Icelandic natural or  
 juridical persons resident in Iceland 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None  
 
4) None   
  S/DCS/W/ISL 
Page 12 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(c) Relating to other transport 
 equipment (CPC 83101 +  83102 + 83105) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) Residency requirement for car rental services 
4) Residency requirement for car rental services 
  
 
(d) Relating to other machinery  
 and equipment 
 (CPC 832) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
(e) Other  1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
F. Other Business Services  
    
(a) Advertising services 
 (CPC 871) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None 
  
 
(b) Market research and public   opinion polling services  
 (CPC 864) 1) None 
 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) Concession needed if personal data is to be  
 processed outside Icelandic jurisdiction 
2) None 3) None 
4) None    S/DCS/W/ISL
 Page 13Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(c) Management consulting  
 services (CPC 865)  
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
  
(d) Services related to man.  
 consulting (CPC 866) 
 
  1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None  
 
 
(e) Technical testing and  
 analysis services 
 (CPC 8676) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
 
(f) Services incidental to  
 agriculture, hunting and  
 forestry (CPC 881) 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 
3) None 
4) None 
  
(i) Services in cidental to  
 manufacturing   (CPC 884+885/except for  
 88442) 
  1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
   
 
(k) Placement and supply   services of personnel  (CPC 872) 
 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
  S/DCS/W/ISL 
Page 14 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(m) Related scientific and  
 technical consulting   services (CPC 8675) 
 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
 
(n) Maintenance and repair of  
 equipment (CPC  
 633+8861-8866; not  
 including maritime vessels,   aircraft or other transport  
 equipment) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
(o) Building-clean ing services  
 (CPC 874) 
  1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None 
  
 
(p) Photographic services  (CPC 875) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
(q) Packaging services  (CPC 876) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
   S/DCS/W/ISL
 Page 15Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(r) Printing, publishing 
 (CPC 88442)  
 1) None 
2) None 3),4) Nationality or residency requirement of at  
 least one year for publishing of newspapers or  
 magazines within the national territory.    Nationality and residency requirement for  
 editors 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 3) None 
 
  
 
4) None   
 
(s) Convention services  (CPC 87909) 
  1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal 
 section. 
 1) None 
2) None 
3) None 4) None  
 
2. COMMUNICATION  
 SERVICES 
    
C Telecommunication  
 services  
    
(a) Voice telephony 
(b) Packet-switched data  
 transmission services 
(c) Circuit-switched data   transmission services 
(d) Telex services 
(e) Telegraph services 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section  Iceland undertakes 
 additional 
 commitments as 
 contained in  the attachment, all 
 parts of which are 
 equally binding.  S/DCS/W/ISL 
Page 16 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(f) Facsimile services 
(g) Leased circuit services (o) Other    
- Mobile and  
 personal communications   services and systems    
 Value-added services2 
 Electronic mail, Voice   mail, On-line information  
 and Data Base Retrieval,  
 EDI, Code and Protocol   Conversion 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal 
 section 1) None 
2) None 3) None 
4) None  
3. CONSTRUCTION AND  
 RELATED  
 ENGINEERING  
 SERVICES     
A. General Construction Work  
 for Buildings  
 (CPC 512) 1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None  
B. General Construction Work  
 for Civil Engineering  (CPC  
 513) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 
4) None   
 
                                                            
2  Excludes voice telephony, telegraph, telex, packet and circuit switched data services, mobile radio telephony, paging and sat ellite services.   S/DCS/W/ISL
 Page 17Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
C. Installation and Assembly  
 Work  (CPC 514+516) 
 
 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
D. Building Completion and  
 Finishing Work  (CPC 517) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 
 1) None 
2) None 
3) None 
4) None   
4. DISTRIBUTION  
 SERVICES 
 (excluding trade in arms,   alcoholic beverages,  
 tobacco and pharmaceutical  
 products)     
A. Commissions Agents'  
 Services  (CPC 621) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None 
  
B. Wholesale Trade Services   
 (CPC 622) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None  
C. Retailing Services (CPC  
 631+632  
 6111+6113+6121)  
 1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None  
  S/DCS/W/ISL 
Page 18 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
D. Franchising (CPC 8929) 
  1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None  
 
E. Other 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None    S/DCS/W/ISL
 Page 19Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
6. ENVIRONMENTAL  
 SERVICES     
A. Sewage Services  
 (CPC 9401) 
 1) Unbound* 
2) None 
3),4) Environmental operation license required 
4) Unbound except as indicated in the horizontal   section 
 
 1) Unbound* 
2) None 
3) None 
4) None    
 
B. Refuse Disposal Waste   
 (CPC 9402) 
 1) Unbound* 
2) None 
3),4) Environmental operating license required 4) Unbound except as indicated in the horizontal 
 section 
 1) Unbound* 
2) None 
3) None 4) None  
C. Sanitation and Similar  
 Services  (CPC 9403) 1) Unbound* 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) Unbound* 
2) None 
3) None 4) None 
  
 
D. Other  
 1) Unbound* 
2) None 
3),4) Environmental operating license required 
4) Unbound except as indicated in the horizontal   section 
 1) Unbound* 
2) None 
3) None 
4) None   
 
                                                            
 * Unbound due to lack of technical feasibility.   S/DCS/W/ISL 
Page 20 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
7. FINANCIAL SERVICES 
 (i) Iceland undertakes commitments on financial services in accordance with the "Understanding on Commitments in Financial Serv ices" (the Understanding). 
 
(ii) Market access commitments with respect to modes 1) and 2) and bound in this Schedule to the extent of the obligations in p aragraphs 3 and 4 of the Understanding. 
 
A. Insurance and Insurance-  
 related Services  
 1) The supply of direct insurance is reserved for  
 Icelandic insurance undertakings or authorized  insurance undertakings from another EEA  
 Member State. 
  The supply of insurance broker services is  
 reserved for insurance brokers authorized by  
 the Ministry of Commerce or insurance   brokers authorized by competent authorities of 
 another EEA Member State. 
 1) None 
  
 
  
 
  
 
  
 2) None 
 
3) Insurance undertakings not established in an   EEA Member State require authorization to  
 establish branch offices in Iceland. 2) None 
 
3) Founders of an insurance undertaking must be   Icelandic residents or legal entities registered in 
 Iceland, citizens of another EEA Member State 
 residing in an EEA Member State or legal 
 entities registered in an EEA Member State.  
  Any investor, whether resident or non- 
 resident, who acquires or intends to acquire a  
 qualifying holding in an insurance undertaking  must give advance notice to the Insurance  
 Supervisory Authority.  The Authority may  
 refuse the acquisition or the exercise of   ownership if it believes that the acquisition  
 will affect the sound functioning of the  
 enterprise.  Branch offices of non-EEA insurance  
 undertakings must be managed by a resident  
 agent.  
 Insurance brokers must be resident in Iceland or 
 citizens or legal entities of another EEA   Member State residing in an EEA Member  
 State. 
   
 4) Unbound except as indicated in the horizontal  
 section. 4) None    S/DCS/W/ISL
 Page 21Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
B. Banking and Other  
 Financial Services  
 (excluding insurance) 
 1) None 
  
 
2) None 3) Credit institutions and undertakings engaged  
 in securities services established in a non-EEA 
 State can establish a branch or a representative  office, subject to authorization by the Ministry 
 of Commerce. 1) Domestic financial institutions shall inform the  
 Central Bank of Iceland of the balances of   service providers' accounts held by non- 
 residents. 
2) None 
3) A founder of a credit institution shall be a  
 natural or legal person resident in Iceland.  The 
 Minister of Commerce can grant   exemptions from this requirement.  Citizens and 
 legal persons of other EEA Member States are 
 exempted from the residency requirement  
  Credit institutions and undertakings engaged  
 in securities services can only be established   as companies with limited liability. 
 
 Commercial banks and savings banks have   exclusive rights to accept deposits and other  
 repayable funds from the public. 
  Public issue of securities shall be conducted  
 by securities undertakings or other parties  
 authorized to provide such services. 
  
 
4) Unbound except as indicated in the horizontal   section. 
 
  Managers and board members of credit  
 institutions and undertakings engaged in   securities services and UCITS shall be resident  
 in Iceland.  Citizens of other EEA Member  
 States are exempted from the residency   requirement.  The Minister of Commerce may  
 grant citizens of non-EEA Member States the  
 same exemptions.  
 Service providers shall inform the Ministry of  
 Commerce of investments made by non- 
 residents in business ente rprises in Iceland and  
 the Central Bank of Iceland of investments  
 made by non-residents in securities in Iceland. 
4) None  
  
  S/DCS/W/ISL 
Page 22 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
9. TOURISM AND TRAVEL  
 RELATED SERVICES     
A. Hotels and Restaurants  
 (including catering)  
 (CPC 641-643) 
 1) None 
2) None 
3) None 
 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) Condition of licenses is one year previous  
 residency 4) Condition of licenses is one year previous  
 residency 
   
 
B. Travel Agencies and Tour  
 Operators  (CPC 7471) 
 1) None 
2) None 3),4) Deposits or liability insurance to cover  
 loss caused to clients 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 3),4) Condition of licenses is one year previous  
 residency of the manager 
   
 
C. Tourist Guides Services  
 (CPC 7472) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal  
 section  
 1) None 
2) None 
3) None 
4) The right to exercise the profession is reserved  
 for resident authorized tourist guides.  Foreign   resident guides may be granted temporary  
 license on ad hoc basis. 
  
   S/DCS/W/ISL
 Page 23Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
10. RECREATIONAL  
 CULTURAL AND   SPORTING SERVICES  
 (other than audiovisual  
 services)     
A. Entertainment Services   
 (including theatre, live  
 ands and circus services) 
 (CPC 9619)  1) None 
2) None 
3) None 
 4) Unbound except as indicated in the horizontal 
 section 
 1) None 
2) None 
3) Targeted  financial support to specific local, 
 regional or national activities. 4) None  
B. News Agency Services  
 (CPC 962) 1),2),3) None other than access to management  
 functions is subject to discretionary  
 authorizations by competent authorities 4) Condition of nationality and residency for the  
 editor of a paper or magazine. Unbound  
 except as indicated in the horizontal section  1) None 
2) None 
3) None 4) None  
C. Libraries, Archives,  
 Museums and other  
 Cultural Service  
 (CPC 963) 1) None 
2) None 
3) None  
 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) Targeted financial support to specific local,   regional or national activities 
 
4) None  
D. Sporting and other  
 Recreational Services 
 (CPC 964) 
 1) None 
2) None 
3),4) Gambling, coin machines and like  
 activities are subject to licensing. Boxing is   illegal in Iceland. 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 
3) Targeted financial support to specific local,  
 regional or national activities  
4) None 
  
  S/DCS/W/ISL 
Page 24 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
E. Other 
  1) None 
2) None 3) None 
 
 4) Unbound except as indicated in the horizontal  
 section 
  1) None 
2) None 3) Targeted financial support to specific local,  
 regional or national activities 
 4) None 
  
 
11. TRANSPORT SERVICES 
    
A. Maritime Transport  
 Services     
 International transport   
(freight and passengers)  CPC 
7211 and 7212  including  
Cabotage  transport 1). 1) None 
 
2) None  
3)(a) Establishment of a registered company for the 
purpose of operating a fleet under Icelandic flag: Unbound except as indicated in the 
horizontal section. 
 
    (b) Other forms of commercial presence 2):           None. 
 
4)(a) Ships' crew:     Unbound except as indicated in the horizontal 
section. 
  (b) Key personnel employed in relation to a  
   commercial presence as defined under mode 
3(b) above: 
      Unbound except as indicated in the horizontal  
      section. 
 1) None 
 
2) None  
3)(a) Unbound 
  
 
 
  (b) None  
 
4)(a) Unbound  
 
   (b) Unbound    S/DCS/W/ISL
 Page 25Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
Maritime Auxiliary Services  
 
- Maritime Cargo Handling 
 Services 3) 1) None 
 2) None 
 
3) None  
4) Unbound, except as indicated in the horizontal 
     section  1) None 
 2) None 
 
3) None  
4) None  
-  Storage and Warehousing  
 Services (CPC 742);   Customs Clearance  
 Services 4);  
 Container Station and   Depot 5) 
 1) Unbound
* 
 2) None 
 
3) None  
4) Unbound, except as indicated in the horizontal 
 section 1) Unbound* 
 2) None 
 
3) None  
4) None  
- Maritime Agency Services  1) None 
 2) None 
 
3) None 
 4) Unbound, except as indicated in the horizontal 
 section 1) None 
 2) None 
 
3) None 
 4) None 
  
- Other Supporting and 
 Auxiliary Transport Services   8) 1) None 
 2) None 
 
3) None  
4) Unbound, except as indicated in the horizontal 
 section  1) None 
 2) None 
 
3) None  
4) None  
                                                            
*     A commitment on this mode of delivery is not feasible.  S/DCS/W/ISL 
Page 26 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
Auxiliary Services as required by 
Maritime Transport Operators:   The following services are 
made available to 
international maritime transport suppliers on 
reasonable and 
non-discriminatory terms and conditions: 
 
1. Pilotage 2. Towing and tug 
 assistance 
3. Provisioning, fuelling, 
watering 
4. Garbage collecting, 
ballast waste disposal 
5. Port Captain´s services 
6. Navigation aids 
7. Shore-based operational 
services essential to ship 
operations, incl. 
communications, water, 
electrical supplies 
8. Emergency repair 
 facilities 
9. Anchorage, berth, 
berthing services 
10. Container handling, 
storage and 
warehousing, freight transport.     
   S/DCS/W/ISL
 Page 27Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
   Where road, coastal 
shipping and related 
auxiliary services are not otherwise fully covered in 
this schedule, a multimodal 
transport operator shall have the ability to rent, hire 
or charter trucks and related 
equipment for the purpose of inland forwarding of 
international cargoes 
carried by sea, or have access to and use of such 
multimodal activities for 
the purpose of providing multimodal transport 
services. 
C. Air Transport Services  
    
 Maintenance and repair of  
 aircraft and parts thereof  1) Unbound
* 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section   1) Unbound
* 
2) None 3) None 
4) None  
 Sales and marketing 
  
 1) None 
  
2) None 
3) None  
 
4) Unbound except as indicated in the horizontal   section  1) For distribution through CRS of air transport  
 services provided by CRS parent carrier:    unbound 
2) None 
3) For distribution through CRS of air transport   services provided by CRS parent carrier:   
 unbound 
4) None   
                                                            
*  Unbound due to lack of technical feasibility 
  S/DCS/W/ISL 
Page 28 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
 Computer Reservations  
 System  
 1) None 
  
2) None 
3) None  
 
4) Unbound except as indicated in the horizontal   section 
 
 1) For obligations of parent or participating 
 carriers in respect of a CRS controlled by an air  carrier of one or more third countries: unbound 
2) None 
3) For obligations of parent or participating  carriers in respect of a CRS controlled by an air 
 carrier of one or more third countries: 
4) None   
 
F. Road Transport Services  
    
(a) Passenger transportation 
 (CPC 7121+7122) 
 1) None 
2) None 
3),4) Authorization required for commercial   land transport services.  Numerical quotas  
 may be imposed as well as exclusive licenses  
 for certain areas or routes. 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None  
 
 4) None 
  
 
(b) Freight transportation  (CPC 123) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
 
(c) Rental of commercial   vehicles with operator 
 (CPC 7124) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None  
  
   S/DCS/W/ISL
 Page 29Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
(d) Maintenance and repair of  
 road transport equipment  (CPC 6112+8867) 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  1) None 
2) None 3) None 
4) None 
  
(e) Supporting services for  
 road transport services 
 (CPC 744) 
  1) None 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) None 
2) None 
3) None 
4) None   
H. Services auxiliary to all  
 modes of transport  
    
(b) Storage and warehousing  
 services   
 (CPC 742) 
 1) Unbound* 
2) None 
3) None 
4) Unbound except as indicated in the horizontal   section 
 1) Unbound* 
2) None 
3) None 
4) None  
   
 
(c) Freight transport agency  
 services   (CPC 748) 1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section 1) None 
2) None 3) None 
4) None 
  
d) Other 
 (CPC 749) 
  1) None 
2) None 
3) None 4) Unbound except as indicated in the horizontal  
 section 
 1) None 
2) None 
3) None 4) None 
  
 
                                                            
 * Unbound due to lack of technical feasibility.  S/DCS/W/ISL 
Page 30 Modes of supply: (1) Cross-border supply (2) Consumption abro ad (3) Commercial presence (4 ) Presence of natural persons  
Sector or Sub-sector Limitations on Market Access Limitations on  National Treatment Additional Commitments 
I. Other Transport Services  
  1) None 
2) None 3) None 
4) Unbound except as indicated in the horizontal  
 section  
 1) None 
2) None 3) None 
4) None  
 
  S/DCS/W/ISL 
 Page  31 
 
 
Additional Commitments by Iceland  
 
Scope  
 
The following are definitions and principles on the regulatory framework for the basic 
telecommunications services underpinning the market access commitments by Iceland. 
 Definitions
 
 
Users  mean service consumers and service suppliers.   
 
Essential facilities  mean facilities of a public teleco mmunications transport network and 
service that 
 
 (a) are exclusively or predominantly provided by a single or limited number of suppliers; 
  and 
 
 (b) cannot feasibly be economically or technically substituted in order to provide a  
  service.  
A major supplier 
is a supplier which has the ability to  materially affect the terms of 
participation (having regard to pr ice and supply) in the relevant ma rket for basic telecommunications 
services as a result of: 
 
 (a) control over essential facilities;  or  
 (b) use of its position in the market. 
 
1. Competitive safeguards
 
 1.1 Prevention of anti-competitive practices in telecommunications
 
 
Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone 
or together, are a major supplier from engagi ng in or continuing anti-competitive practices. 
 
1.2 Safeguards  
 
The anti-competitive practices referred to  above shall include in particular: 
 
 (a) engaging in anti-competitive cross-subsidization;   
 
 (b) using information obtained from competitors with anti-competitive results;  and 
 
 (c)  not making available to other serv ices suppliers on a timely basis technical 
 information about essential facilities and commercially relevant information which 
 are necessary for them to provide services.  
 
2. Interconnection  
 
2.1 This section applies to linking with suppliers providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and  to access services provided by another supplier. 
 
 S/DCS/W/ISL 
Page  32 
 
 
2.2 Interconnection to be ensured  
 
Within the limits of permitted market access, interconnection with a major supplier will be 
ensured at any technically feasible point in the network.  Such interconnection is provided1: 
 
 (a) under non-discriminatory terms, conditions (including technical standards and 
 specifications) and rates and of a quality no less favourable than that provided for its 
 own like services or for like services of  non-affiliated service suppliers or for its 
 subsidiaries or other affiliates2, 
 
 (b) in a timely fashion, on terms, co nditions (including technical standards and 
 specifications) and cost-oriented rates that are transparent, reasonable, having regard 
 to economic feasibility, and sufficiently un bundled so that the supplier need not pay 
 for network components or facilities that it does not require for the service to be 
 provided;  and 
 
 (c) upon request, at points in addition to the network termination points offered to the 
 majority of users, subject to charges that reflect the cost of construction of necessary 
 additional facilities. 
 2.3 Public availability of the procedures for interconnection negotiations
 
 
The procedures applicable fo r interconnection to a major s upplier will be made publicly 
available. 
 2.4 Transparency of interconnection arrangements
 
 
It is ensured that a major supplier will make publicly available either its interconnection 
agreements or a reference interconnection offer. 
 2.5 Interconnection:  dispute settlement
 
 
A service supplier requesting in terconnection with a major supplier will have recourse, either: 
 
 (a)  at any time or 
 
 (b) after a reasonable period of ti me which has been made publicly known 
 
to an independent domestic body, which may be a regulatory body as referred to in paragraph 
5 below, to resolve disputes regarding appropriat e terms, conditions and rates for interconnection 
within a reasonable period of time, to the extent that these have not been established previously. 
 
 
 
  
 
                                                            
 1 Suppliers of services or networks not generally available to the public, such as closed user groups, have 
guaranteed rights to connect with the public telecommunications tr ansport network or services on terms, conditions and rates 
which are non-discriminatory, transparent and cost-oriented.  Su ch terms, conditions and rates may, however, vary from the 
terms, conditions and rates applicable to interconnectio n between public telecommunications networks or services. 
 2 Different terms, conditions and rates may be set in I celand for operators in different market segments, on the 
basis of non-discriminatory and transparent national licensing pr ovisions, where such differences can be objectively justified 
because these services are not considered "like services".  S/DCS/W/ISL 
 Page  33 
 
 
3. Universal service  
 
Any Member has the right to define the kind of universal service obligation it wishes to 
maintain.  Such obligations will not be regarded  as anti-competitive per se, provided they are 
administered in a transparent, non-discriminatory  and competitively neutral manner and are not more 
burdensome than necessary for the kind of un iversal service defined by the Member.    
 4. Public availability of licensing criteria
 
 
Where a licence is required, the following will be made publicly available: 
 
(a) all the licensing criteria and the period of time normally required to reach a decision 
concerning an application for a licence and 
 
(b) the terms and conditions of  individual licences. 
 
The reasons for the denial of a licence will be made known to the applicant upon request. 
 
5. Independent regulators  
 
The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services.  The decisions of and the procedures used by regulators shall be 
impartial with respect to all market participants. 
 
6. Allocation and use of scarce resources  
 
Any procedures for the allocation and use of scarce resources, including frequencies, numbers 
and rights of way, will be carried out in an ob jective, timely, transparent and non-discriminatory 
manner.  The current state of allocated frequency ba nds will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required. 
 S/DCS/W/ISL 
Page  34 
 
 
ATTACHMENT 
 
NOTES TO MARITIME TRANSPORT  
 
 
”Reasonable and non-discriminatory terms and conditions” means, for the purpose of multimodal 
transport operations, the ability of  the multimodal transport operator to  arrange for the conveyance of its 
merchandise on a timely basis, including priority ove r other merchandise which has entered the port at a 
later date. A ”multimodal transport operator” means the person on whose behalf the bill of 
lading/multimodal transport document, or any other document evidencing a contract of multimodal 
carriage of goods, is issued and who is responsible for the carriage of goods pursuant to the contract of 
carriage. 
 
1. ”Cabotage” is defined as maritime transport of goods and passengers between ports in Iceland. 
 
2. ”Other forms of commercial presence for the supply of international maritime transport services” 
means the ability for international maritime transport service suppliers of the other Members to 
undertake locally all activities which are necessary fo r the supply to their customers of a partially or 
fully integrated transport service, within which the maritime transport constitut es a substantial element. 
(This commitment shall however not be construed as limiting in any manner the commitments undertaken under the cross-border mode of delivery). 
 
These activities in clude, but are not limited to: 
 
(a) marketing and sales of maritime transport and related services through direct contact with customers, from quotation to invoicing, these services being those operated or offered by the service 
supplier itself or by service suppliers with which the service seller has established standing business 
arrangements; 
 
(b) the acquisition, on their own account or on behalf of their customers (and the resale to their customers) of any transport and related services, including inward transport services by any mode, 
particularly inland waterways, road and rail, neces sary for the supply of the integrated service; 
 
(c) the preparation of documentation concerning tr ansport documents, customs documents, or other 
documents related to the origin and character of the goods transported; 
 
(d) the provision of business information by any means, including computerised information systems 
and electronic data interchange (subject to the provisions of the annex on telecommunications); 
 
(e) the setting of any business arrangements (including participation in the stock of a company) and 
the appointment of personnel recruited locally (or, in the case of foreign personnel, subject to the 
horizontal commitment on movement of personne l) with any locally established shipping agency; 
 
(f) acting on behalf of the companies, organising the call of the ship or taking over cargoes when 
required.  
3. ”Maritime cargo handling services” means activi ties exercised by stevedore companies, including 
terminal operators, but not including the direct activities of dockers, when this workforce is organized 
independently of the stevedoring or terminal operator companies. The activities covered include the 
organisation and supervision of: 
 
- the loading/discharging of cargo to/from a ship; 
- the lashing/unlashing of cargo;  S/DCS/W/ISL 
 Page  35 
 
 
- the reception/delivery and safekeeping of ca rgoes before shipment or after discharge. 
 
4. ”Customs clearance services” (alternatively ”c ustoms house brokers´ services”) means activities 
consisting in carrying out on behalf of another party customs formalities concerning import, export or 
through transport of cargoes, whether this service is the main activity of the service provider or a usual 
complement of its main activity. 
 5. ”Container station and depot services” means activities consisting in storing containers, whether in 
port areas or inland, with a view to their stuffing /stripping, repairing, and making them available for 
shipments. 
 
6. ”Maritime agency services” means the activiti es consisting in representing, within a given 
geographic area, as an agent the business interests of one or more shipping lines of shipping companies, 
for the following purposes: 
 
- marketing and sales of maritime transport and re lated services, from quotation to invoicing, and 
issuance of bills of lading on behalf of the compan ies; acquisition and resale of the necessary related 
services, preparation of documentation, and provision of business information; 
- acting on behalf of the companies organising the call of the ship or taking over cargoes when required.  
7. ”Freight forwarding services” means the activity consisting of organising and monitoring shipment 
operations on behalf of shippers, through the acquisiti on of transport and related services, preparation of 
documentation and provision of business information. 
 8. ”Other supporting and auxiliary transport servi ces” means freight brokerage services; bill auditing 
and freight rate information services; transportation document preparation services; packing and crating 
and unpacking and de-crating services; freight inspection, weighing and sampling services; and freight 
receiving and acceptance services (inc luding local pick-up and delivery). 
 
 
_______________  S/DCS/W/ISL 
Page 36 
ICELAND - LIST OF ARTICLE II (MFN) EXEMPTIONS 
 
 
Sector or Subsector Description of measure 
indicating its inconsistency  
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for 
the exemption 
ALL SECTORS 
  
 
Measures aimed at promoting Nordic cooperation such as: - guarantees and loans to 
investment projects and exports 
(The Nordic Investment Bank) - financial support to R&D 
projects (The Nordic Industrial 
Fund) - funding of feasibility studies for 
international projects (The Nordic 
Fund for Project Exports) - financial assistance to 
companies* utilizing 
environmental technology (The Nordic Environment Finance Corporation). 
  
 
Denmark, Finland, Iceland, Norway and Sweden  
 
  
 
  
 
 (*) Applies to East European 
companies, which are co- 
operating with a Nordic company.   
 
Indefinite   
 
To maintain and develop Nordic Cooperation  
Audiovisual services; 
transmission of 
audiovisual programmes  Measures that are adopted for the 
implementation and in conformity 
with the regulations such as the EC Television Broadcasting 
Directive (no. 89/552) and which 
define programmes of European origin in order to extend national 
treatment to audiovisual 
programmes meeting specific origin criteria 
 Parties to the Council of Europe 
Convention on Transfrontier 
Television or other European countries with whom an 
agreement may be concluded 
 Indefinite 
 The promotion of cultural identity 
within the broadcasting sector in 
Europe, as well as achievement of certain linguistic policy objectives 
  
  S/DCS/W/ISL
 Page 37Sector or Subsector Description of measure 
indicating its inconsistency  
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for 
the exemption 
Audiovisual services; 
production and 
distribution of cinematographic works 
and television programmes 
 Measures that are adopted for the 
implementation of benefits in 
conformity with such support programmes as MEDIA and 
EURIMAGES to audiovisual 
programmes and suppliers to these programmes, meeting 
specific European origin criteria 
 European countries 
 Indefinite 
 Preservation and promotion of the 
regional identity of the countries 
concerned  
 
 Support programmes for the 
production and distribution of 
cinematographic works and television programmes (The 
Nordic Film and TV Fund) 
 Denmark, Finland, Norway and 
Sweden 
 Indefinite 
 To maintain and develop Nordic 
cooperation 
 
 
 Measures based upon 
government-to-government 
framework agreements, and plurilateral agreements, on co-
production of audiovisual works, 
which confer National Treatment to audiovisual works covered by 
these agreements, in particular in 
relation to distribution and access to funding  All countries with whom 
cultural cooperation may be 
desirable (agreements already exist, or are being negotiated, 
with the following countries: 
France, Canada)  Indefinite (The promotion 
of cultural links between 
countries cannot be time bound) 
 The aim of these agreements is to 
promote cultural links between the 
countries concerned  
 
__________