Raad van Ministers waarschijnlijk akkoord met openen toetredingsonderhandelingen met IJsland (en)
The EU is to accept Iceland's bid to join the bloc at a meeting of EU foreign ministers on Monday (27 July), signaling a speedy pace on accession.
The ministers plan to ask the European Commission to analyse Iceland's legal readiness to start membership negotiations, marking the first formal step in the enlargement process.
"The commission is invited to submit to the council its opinion on this application taking into account the renewed consensus on enlargement," they will say in a statement, according to a draft seen by Bloomberg.
The move comes after Iceland officially submitted its EU application just last week.
If the commission completes the analysis before the end of the year, Iceland could start accession talks in 2010 and enter the EU as early as 2011 or 2012.
The rapid pace stands in contrast to the progress of some Balkan countries. Albania submitted its EU application in April but is still waiting for EU states to refer its papers to the commission. Montenegro has been waiting since December.
But Iceland is starting out from a different point. The small island nation already has a GDP per capita higher than all EU states except Luxembourg and has been part of the European Economic Area for 15 years.
"There is no fast-track for Iceland but rather a shorter track because they are already a part of the single market and the Schengen area [the EU's passport-free travel zone]," Swedish foreign minister Carl Bildt said ahead of Monday's meeting, Reuters reports.
The enlargement climate inside the EU is tricky due to looming German elections and lack of clarity on the Lisbon treaty.
But some EU states are already keen to befriend the potential new member, with the Lithuanian foreign minister visiting Reykjavik on Saturday to endorse its EU bid.
Inside Iceland, the economy is quickly recovering after the shock collapse of the country's banks last year, which prompted the EU application.
Unemployment is below the eurozone average of 9.5 percent. GDP is to contract less this year than in some EU states such as Ireland. Trade is up and the government surplus is shrinking.
The latest poll on EU accession - which must be approved by referendum - by Capacent Gallup on 5 July showed an even split, with 39 percent of Icelanders supporting the move and 39 percent against.