Iceland Chamber of Commerce

What Iceland Chamber of Commerce does

The Iceland Chamber of Commerce (Viðskiptaráð Íslands) is a non-governmental, voluntary membership organization founded in 1917 and headquartered at Borgartún 35, Reykjavík. It serves as the primary business-voice institution for Icelandic enterprises of all sizes and sectors, with member companies including Arion bank, Landsbankinn, Icelandair, Eimskip, KPMG, CCP Games, Síminn, and Costco. The Chamber delivers a portfolio of chartered and informational services: Certificates of Origin and ATA Carnet processing for international trade (both transitioned to electronic application via vi.esja.com in August 2014), arbitration through the wholly-owned Nordic Arbitration Centre (awards enforceable in 159 countries under the New York Convention), corporate governance guidelines published jointly with SA Confederation of Icelandic Enterprise and Nasdaq Iceland, and recurring economic publications distributed to approximately 2,200 recipients.

The organization generates revenue through a mix of voluntary membership dues, pay-as-you-go fees for trade documentation and ATA Carnet services, one-time publication sales (e.g., Corporate Governance Guidelines at 2,900 ISK per copy), and recurring economic reporting subscriptions. Its 8-person staff team is led by Managing Director Björn Brynjúlfur Björnsson and Chairman Andri Þór Guðmundsson (elected February 2024, term through 2026). The Chamber also coordinates 17 bilateral chambers of commerce (covering markets including the US, UK, Germany, France, Japan, Canada, and Nordic countries), conducts Iceland's IMD World Competitiveness assessment annually since 2004, and hosts the annual Iceland Business Forum each February since 1975. Underlying technology is non-proprietary—the Chamber's primary digital asset is its electronic certificate-of-origin application system, with think-cell as a software partner for publication production.

Name

Iceland Chamber of Commerce

Legal name

Iceland Chamber of Commerce

Website

https://chamber.is

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

1–10 employees

Short description

The Iceland Chamber of Commerce (Viðskiptaráð Íslands) is a 1917-founded non-governmental membership organization serving Icelandic businesses across all sectors. It delivers trade documentation (Certificates of Origin, ATA Carnet), arbitration via the Nordic Arbitration Centre, bilateral chambers, and economic research.

Ownership category

akta.pro rank

Product category

Business Chamber and Trade Services

NAICS

Convention and Trade Show Organizers (56192)

SIC

Services-Membership Organizations (8600)

akta.pro industry

PRIMARYBPADAMAA

Trade Policy, Agreements & Negotiations

Business & Public Services/International Organizations & Development/International Trade & Economic Development

SECONDARYBPADAFAC

Mediation, Negotiation Support & Peace Processes

Business & Public Services/International Organizations & Development/Peacekeeping, Conflict Resolution & Security Cooperation

SECONDARYMPAGAGAM

Conferences & Conventions Operations Services (Registration, AV, Logistics)

Media, Entertainment & Sports/Live Entertainment & Events (Concerts, Theater, Festivals)/Conventions & Conferences (Business Events)

Keywords

• Chamber of commerce services
• Trade certification
• Arbitration services
• Economic research
• Business advocacy

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership Fees: Voluntary membership organization where companies and individuals engaged in business in Iceland become members. Members include major Icelandic companies across various sectors.
2. Certificates of Origin: Issuance of certificates of origin for goods traded internationally, particularly for free-trade agreements and customs requirements. Electronic application system implemented in August 2014.
3. ATA Carnet Services: ATA Carnet certificates for temporary exportation of goods and samples. Covers goods traded internationally including cinematographic equipment, computers, art, clothing, and other goods.
4. Corporate Governance Guidelines: Publication and sale of Corporate Governance Guidelines at 2,900 ISK per copy, published in collaboration with SA Confederation of Icelandic Enterprise and Nasdaq Iceland.
5. Economic Reports: The Icelandic Economy report sent to 2,200 recipients in business, governmental administration and organisations worldwide. Also publishes quarterly and annual economic reports.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

The Iceland Chamber of Commerce is a non-governmental, membership-based organization that delivers trade facilitation services (Certificates of Origin, ATA Carnet), commercial dispute resolution through the Nordic Arbitration Centre, economic research publications, and business environment advocacy on behalf of Icelandic companies. It also operates a network of 17 bilateral chambers of commerce and hosts the annual Iceland Business Forum.

Product overview

The Iceland Chamber of Commerce is a non-governmental membership organization that provides a platform for businesses to participate in improving Iceland's business environment. The organization offers a portfolio of services including Certificates of Origin for international trade, ATA Carnet processing for temporary exports, Corporate Governance Guidelines developed in partnership with SA Confederation and Nasdaq Iceland, and operates the Nordic Arbitration Centre (NAC) for commercial dispute resolution. Core publications include The Icelandic Economy reports and IMD Competitiveness assessments. The Chamber also coordinates 16 Bilateral Chambers of Commerce and hosts the annual Iceland Business Forum event. The organization does not offer a technology product; its services are consultative, administrative, and informational in nature.

Differentiator

Problem solved

Functional benefit

Brands

• Nordic Arbitration Centre (NAC): An independent arbitration institute providing dispute resolution services, operating as part of the Iceland Chamber of Commerce.

Products and services

• Certificates of Origin Official certification service confirming the origin of goods for free-trade agreements and customs purposes, issued by the Chamber on behalf of Icelandic exporters.
• ATA Carnet International customs document allowing temporary exportation of goods without paying customs duties, covering over 150,000 carnets worldwide annually for goods valued at over US$17 billion.
• Corporate Governance Guidelines Published guidelines clarifying roles and responsibilities of board members and company directors, sold at 2,900 ISK per printed copy.
• Nordic Arbitration Centre (NAC) Independent arbitration institute providing efficient dispute resolution with a 6-month timeframe for awards, confidential proceedings, and awards enforceable in 159 countries under the New York Convention.
• The Icelandic Economy Reports Comprehensive annual and quarterly economic reports providing objective overviews of Iceland's economic, business, and political landscape, distributed to 2,200 recipients worldwide.
• IMD Competitiveness Assessment Gathers statistical data and conducts executive survey in Iceland for the IMD World Competitiveness Yearbook, which ranks about 70 nations using 329 criteria.
• Pay Day Analysis Annual review of the wage wedge—the difference between employer labor costs and employee take-home pay—calculating how many days into the year employees work before earning net pay.
• Bilateral Chambers of Commerce Network Network of 17 bilateral chambers connecting Icelandic businesses with counterpart organizations in countries including USA, UK, Denmark, Norway, Sweden, Finland, Germany, France, Japan, Canada, and others.
• Iceland Business Forum Annual flagship event held every February since 1975, bringing together Chamber members, politicians, and government officials for discussions on economic developments and business outlook.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered minor and core.

• Finnish-Icelandic Chamber of CommerceminorGTM or Marketing Partner · 25 September 2025The Finnish-Icelandic Chamber of Commerce recently joined the Bilateral Chambers umbrella. The Chamber's objective is to strengthen and maintain business relations between Finland and Iceland, as well as to promote connections in education and culture. It was established in 2025.
• American-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1988. Strengthens business relationships between the United States and Iceland.
• Arctic-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2013.
• British-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1997.
• Canadian-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2025.
• Danish-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2000.
• Faroese-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2012.
• French-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1990.
• German-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1995.
• Greenlandic-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2011.
• Italian-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2001.
• Japanese-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2017.
• Norwegian-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2011.
• Polish-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2019.
• Serbian-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 2022.
• Spanish-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1997.
• Swedish-Icelandic Chamber of CommerceminorGTM or Marketing PartnerBilateral chamber operating under the Iceland Chamber of Commerce umbrella. Established 1997.
• Nordic Arbitration Centre (NAC)coreStrategic or Co-development PartnerThe Nordic Arbitration Centre (NAC) is an independent arbitration institute operated by the Iceland Chamber of Commerce. It provides dispute resolution mechanisms with awards enforceable in 159 countries under the New York Convention. The NAC board includes Garðar Víðir Gunnarsson (chairman), Eiríkur Agla Eir Vilhjálmsdóttir, Finnur Magnússon, Halla Björgvinsdóttir, and Haraldur I. Birgisson. Secretary General is Lísbet Sigurðardóttir.
• SA Confederation of Icelandic EnterprisecoreStrategic or Co-development PartnerCollaborative partnership for publishing Corporate Governance Guidelines. The Chamber, along with SA Confederation of Icelandic Enterprise and Nasdaq Iceland, publishes guidelines to improve corporate governance.
• Nasdaq IcelandcoreStrategic or Co-development PartnerCollaborative partnership for publishing Corporate Governance Guidelines. The Chamber collaborates with Nasdaq Iceland and SA Confederation of Icelandic Enterprise to publish guidelines on corporate governance.
• IMD Business School (Switzerland)coreStrategic or Co-development PartnerThe Iceland Chamber of Commerce gathers statistical data and conducts an executive survey in Iceland for the IMD World Competitiveness Yearbook. IMD has published the yearbook since 1989, ranking approximately 60 nations based on competitiveness using 329 criteria.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Others

• Eurochambres: Association of European chambers of commerce representing over 20 million enterprises. The Iceland Chamber is part of this ecosystem; comparable in advocacy scope but acts as an umbrella rather than a direct service competitor.

Direct peers

• Dansk Erhverv (Danish Chamber of Commerce): Largest Danish business and trade organization representing companies across sectors. Direct functional peer providing trade documentation, business policy advocacy and member services in a comparable small advanced Nordic economy.
• London Court of International Arbitration (LCIA): Internationally recognized arbitration institution with awards enforceable under the New York Convention, similar to NAC. Direct competitor in the cross-border dispute resolution space.
• Confederation of British Industry (CBI): UK's primary business membership organization, providing advocacy, networking and trade services. Functionally comparable to the Iceland Chamber with a broader international footprint.
• SA - Confederation of Icelandic Enterprise: The other principal Icelandic business confederation, co-publishing the Chamber's Corporate Governance Guidelines. Directly comparable in domestic advocacy remit, but employer-side rather than chamber-style.
• Stockholm Chamber of Commerce: Swedish chamber issuing trade certificates and operating the Stockholm Arbitration Centre (SCC), the most direct Nordic competitor to the Iceland Chamber's NAC. Closest analog in scale and product mix.
• NHO - Confederation of Norwegian Enterprise: Norway's main employer and business federation, comparable in function to the Iceland Chamber but at much larger scale. Closest like-for-like Nordic peer in representing enterprises on policy and international trade.

Broad incumbents

• International Chamber of Commerce (ICC): Global business organization headquartered in Paris that issues ATA Carnets worldwide and operates the ICC International Court of Arbitration. The Chamber works within the ICC global chamber network and competes indirectly for trade services and arbitration mandates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iceland Chamber of Commerce