Ladies and Gentlemen,

It is an honour to have the opportunity to welcome the participants of the Food Technology Brokerage Event to Iceland. At the same time, I hope that the NordFood conference on Future, Culture and Know-how, which is now coming to an end, has been fruitful and rewarding.

I would like to tell you why it is of great importance for us Icelanders to host a conference and a brokerage event of food technology. Food production is a cornerstone of the Icelandic economy. Food production accounts for half of industrial production in Iceland, twenty percent of GDP and provides one out of every four jobs. More than 80 percent of Iceland's merchandise exports are accounted for by food, which is one of the highest in the world. There are more than 300 fish processing plants and over 200 companies engaged in other food production.

In order to thrive in an increasingly competitive global market, Icelanders produce high-quality food products at the upper end of the market. Quality is the name of the game. Strict quality control is operated in all food processing sectors: seafood, dairy products, meat and beverages. Many companies have attained certification of their quality systems to ISO and other international standards, and structures for achieving certifications are well established. Certification ensures full compliance with the strictest regulations applying in the 360 million people European Economic Area market, to which Iceland belongs.

Icelandic legislation and regulations regarding the food sector have been revised on the basis of directives applying in the European Economic Area and demands for control of fish products made by the Food and Drug Administration in the USA. Icelanders participate, as well, actively in many international research programmes in the field of food production. Participation has been particularly strong in Nordic and European R&D programmes, especially focusing on fish production technology projects.

Seafood is by far the most important food production for the Icelandic economy. Annual catches in recent years have averaged around 1,5 million tons. In terms of catch volume, Iceland ranks fifteenth in the world. Fish from Iceland, caught in the fresh and unpolluted waters of the North Atlantic, has established a world-wide reputation for its superb quality. Fish products from Iceland have been actively marketed in the USA, Europe and Japan and enjoy a leading position at the top end of the market.

Intense research and development in all areas of fishing and fish processing is a major reason for Iceland's status as one of the most-advanced seafood producing nations today. Icelandic fisheries equipment and know-how have become important export catagories. Modern technology is employed in the fisheries and fish processing industry on a very high scale compared to other countries where fisheries play a less vital role in the national economy. Computers, electronics, quality management techniques and biotechnology are applied intensively, geared to the special needs of the industry.

Seafood is, however, not the only food produced in Iceland. Iceland offers a clean and natural environment for production of quality, wholesome food. One of the attractive aspects of Iceland's northern location is that there is less need for pesticides and herbicides than in most other countries. The use of hormone implants is strictly prohibited. Conditions for organic agricultral production are excellent in Iceland. The main agricultural products in Iceland are meat, dairy products, eggs, vegetables, potatoes, root crops and farmed fish. Iceland is self-sufficient in meat, dairy products and eggs.

The beverage industry is the fastest growing segment of the food industry in Iceland. Exports of beverages have more the quadruppled over the past five years. Studies and sampling of Icelandic water, undertaken both by official bodies in Iceland and in countries to which exports have been made, show a very high level of purity and contaminants.

Ladies and gentlemen. I am convinced that you will return home from this brokarage event with your hands full of ideas, after having this excellent opportunity to exchange ideas and participate in practical workshops and brainstorming sessions. I hope you will have a pleasant stay. Thank you very much