Iceland is preparing to launch formal negotiations with the European Union on a security and defense partnership, Prime Minister Kristrun Frostadottir announced during a joint press briefing with European Commission President Ursula von der Leyen in Keflavik, according to Xinhua.

Both leaders expressed optimism that talks could begin in the coming weeks, with hopes of reaching an agreement by the end of the year.

Frostadottir also confirmed that the government is actively considering a national referendum on whether to restart EU accession talks.