Information on the PEM Convention
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The PEM Convention (Regional Convention on pan-Euro-Mediterranean preferential rules of origin) sets out common rules of origin for goods under numerous free trade agreements between countries in Europe and the Mediterranean region.
The rules determine whether a product qualifies as originating goods and can therefore benefit from preferential tariff treatment, such as reduced customs duties or duty-free importation.
The PEM Convention applies to rules of origin in most free trade agreements to which Iceland is a party with countries in Europe and the Mediterranean region. The rules provide a common framework that ensures the consistent application of rules of origin among the contracting parties.
Special rules (fish, industrial products, etc.)
Certain products are subject to specific rules of origin under the PEM Convention. This includes, among other things, fish, seafood products and certain industrial goods. It is important to determine which specific rules apply to the product before export or import takes place.