Driving Cross-Border Interest between China and Iceland
The Icelandic economy has emerged from the financial crisis as a more resilient and fundamentally stronger economy. Its resolve in addressing economic issues was founded on the island nation’s rule of law and supported by the country’s dynamic legal services sector.
As a result of the country’s economic recovery and the recently signed Iceland-China Free Trade Agreement (FTA), cross-border interest between the two countries is growing.
“As a nation, one of our great strengths is that we learned from the financial crisis,” says Orn Gunnarsson, Managing Partner of LEX. “The reformed, modern banking system is one of the positive consequences of the crisis and the legal system has become more sophisticated post-crisis. A wealth of knowledge has been acquired following multifaceted legal encounters and a stronger legal sector in Iceland has emerged today”.
Orn Gunnarsson, Managing Partner, Lex
LEX is one of Iceland’s largest law firms and has successfully acted on behalf of a large number of internationally respected corporations, organizations and private individuals both in Iceland and abroad. “We are engaged in every sector of the Icelandic economy and in most cases represent at least one major player from each industry,” says Gunnarsson.
The firm is member of World Services Group, a global network of business services providers and Energy Law Group, a group of European, North African and Middle Eastern independent lawyers specializing in the energy and natural resources sectors.
The FTA between Iceland and China will continue to create synergies between the two countries. “The FTA provides local and Chinese companies with opportunities in a number of sectors – ‘green energy’ proving to be a huge area of interest,” says Gunnarsson. “As a leading firm, our lawyers have decades of experience assisting foreign investors in Iceland. We are looking forward to working with more Chinese investors as they explore opportunities here.”