Iceland's Ministry of Finance and Economic Affairs calls for a stable rules based economic framework and proportionate regulation at OECD ministerial meeting

Iceland's Ministry of Finance and Economic Affairs reported on Finance and Economic Affairs Minister Daði Már Kristófersson's participation in the Organisation for Economic Co-operation and Development annual ministerial meeting in Paris, where he argued that investment and productivity depend on a stable rules based international economic system and predictable regulation. In remarks delivered in the context of discussions on employment policy and the conditions for stronger investment, productivity and prosperity, he said governments should avoid adding uncertainty to the business environment. The minister said measures taken in response to stronger concerns about economic security and resilience should be as compatible with trade and investment as possible. He also highlighted the position of smaller economies, arguing that rules designed for countries with tens of millions of inhabitants can impose disproportionate costs on countries such as Iceland and on firms operating there. He said a genuinely supportive investment environment requires moderation, simplicity and strong attention to implementation. Alongside the meeting, he held bilateral talks with the finance and economy ministers of Slovakia, Greece, Belgium and France, and met Organisation for Economic Co-operation and Development experts to discuss developments in the global economy, public finances and key economic challenges in the coming years.