Faroe Islands committee to discuss China trade memorandum

The Faroe Islands’ foreign affairs committee will discuss a memorandum of understanding with China at a meeting this afternoon, KVF reported. The foreign affairs minister is due to consult the committee on the document.

At the opening of the parliamentary session in Ólavsøka, the prime minister said the Faroese government and the Chinese government had discussed the possibility of a free trade agreement. They had agreed to prepare steps to move closer to one.

Two protocols between the countries were drawn up last year, creating new opportunities and more flexible procedures for exports to China. The government is now working on a memorandum of understanding as an interim step towards free trade, the prime minister said.