Considerations on COM(2016)524 - Signing of an agreement with Iceland on the protection of geographical indications for agricultural products and foodstuffs

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table>(1)On 18 June 2007 the Council authorised the Commission to open negotiations with Iceland with a view to signing an agreement on the protection of geographical indications for agricultural products and foodstuffs (‘the Agreement’). The negotiations were successfully concluded by the initialling of the Agreement.
(2)The Parties agree to promote between each other the harmonious development of geographical indications as defined in Article 22(1) of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) (1) and to foster trade in agricultural products and foodstuffs with geographical indications originating in the Parties' territories.

(3)Therefore, the Agreement should be signed on behalf of the Union, subject to its conclusion at a later date,