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In March 2015 Iceland's government requested that "Iceland should not be regarded as a candidate country for EU membership". The Council took note and undertook further practical adjustments of its working procedures.
Iceland applied for EU membership in July 2009. The Commission issued a favourable opinion in February 2010, and the Council decided in June 2010 that accession negotiations would be opened. After a new government took over in May 2013, Iceland put the accession negotiations on hold. At the time of this decision, 27 of the negotiating chapters had been opened, of which 11 provisionally closed. In March 2015 Iceland's government requested that "Iceland should not be regarded as a candidate country for EU membership".
Iceland is highly integrated with the EU through membership in the European Economic Area (EEA), the Schengen Area and the European Free Trade Association (EFTA). It is also a signatory of the Dublin regulation on asylum policy and a partner in the EU's Northern Dimension policy to promote cooperation in Northern Europe.
Through the EEA, Iceland participates in the single market and contributes financially towards social and economic cohesion in Europe. A significant proportion of the EU's laws are applied in Iceland today. Iceland also participates, albeit with no voting rights, in a number of EU agencies and programmes, covering areas including enterprise, environment, education and research.
Iceland has a bilateral Free Trade Agreement with the EEC since 1972. Two thirds of Iceland's foreign trade is with EU Member States.
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