The Philippines and Iceland, together with Norway and Denmark have been steady partners in the areas of maritime, mining, renewable energy, fishing and medical services among others.

Furthermore, she expressed her concerns about restrictive remittance and currency exchange policies currently imposed by the Central Bank of Iceland which affects Filipino workers in sending money back in their home country, suggesting alternatives.

[6] At the Asia–Europe Meeting held in Vientiane, Laos on 2012, Philippine President Benigno Aquino III and the then President of the Swiss Confederation Eveline Widmer-Schlumpf discussed Switzerland's proposal for a free trade agreement with the European Free Trade Area (EFTA) and affirmed the potential and viability of such a mechanism to enhance economic relations between the Philippines and the EFTA of which Iceland is part of the said multilateral organization.

Iceland, being a small country with less than half a million people, needed to outsource in order to satisfy its demands in production, services, and construction.

[22] The Philippines government was seriously considering cutting diplomatic relations with Iceland for initiating the resolution, which they described as grotesquely one-sided, outrageously narrow, and maliciously partisan and shown how the Western powers are scornful of sovereign exercise of protecting Filipino people from the scourge of prohibited drugs.