Kina, investeringer og sikkerhetspolitikk: Politikk og perspektiver i norden – Island

Abstract

Relations between Iceland and China have increased significantly during the 21st century, with landmark agreements reached regarding free trade and currency swap, as well as Arctic and geothermal cooperation. Iceland became the first western European country to acknowledge China as a developed market economy in 2005 and was the first European country to sign an FTA with China in 2013. While bilateral trade and the inflow of Chinese tourists to Iceland have seen steep growth figures, the flow of capital remains very low. Chinese investments in Iceland remain minimal, with only one currently active FDI from China in Iceland. This contradicts the widely discussed influence of large-scale Chinese investments in Iceland, largely focused on potential security aspects regarding the geostrategic importance of the Arctic region. Arguably, the highest profiled proposed investment case from China came in 2011 with a bid from Zhongkun Group to invest in land for the development of a tourism resort in northeast Iceland, stirring up contentious issues on ownership of land and to some extent national security.While the article does not find detectable security threats from FDI in Iceland, it might however be timely to review the legal process of investments from outside of the EEA into Iceland to increase predictability. Such an analysis could be carried out with regards to compatible cases in the other Nordic countries, including standardized investment screening processes in place.