United Nations (UN)
Iceland is a founding member of UN and a member of most specialized agencies and autonomous bodies of UN. 

European Free Trade Association (EFTA) & European Economic Area (EEA)
Iceland joined EFTA in 1970 and was one of the founding members of the now 30 nation EEA set up by the EU and EFTA in 1994. 

Schengen Agreement/EU
Through the EEA Iceland is part of the EU internal market as well as the Schengen agreement through a special agreement. 

Iceland is not a member state of the EU.

Nordic Council
Iceland is a member of the Nordic Council together with Denmark, Finland, Norway and Sweden, a regional association with particular close social and cultural links.

Iceland is member of the above organizations.

Asian Infrastructure Investment Bank (AIIB)
Iceland is a founding member of the Bank.