Faroes pursue China trade deal as wider interests emerge

The Faroe Islands and China have signed two documents since last year to strengthen trade ties, but China may have interests beyond commerce, KVF reports.

Last year, then foreign affairs minister Sirið Steenberg signed a health-related agreement with China. Earlier this week, current Foreign Affairs Minister Bárður á Steig Nielsen signed a memorandum of understanding on working towards a free trade agreement between the Faroe Islands and China.

Faroese businesses have welcomed the progress. Niels Winther, director of Vinnuhúsið, said a free trade agreement with China would be very important for Faroese businesses. Símun Petur Jacobsen, sales director at Bakkafrost, agreed and pointed to the importance of the Chinese market to the company.

While the Faroe Islands’ interest in the cooperation is primarily about trade and access to markets, China may also have broader political motives, said Jens Christian Svabo Justinussen, a PhD in social science.

Winther said he does not believe those concerns should deter the Faroe Islands from business cooperation with China.