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While part of the Kingdom of Denmark, the Faroe Islands have been self-governing since 1948, controlling most areas apart from military defence, policing, justice, currency, and foreign affairs. Because the Faroe Islands are not part of the same customs area as Denmark, the country has an independent trade policy, and can establish trade agreements with other states. The Faroes have an extensive bilateral free trade agreement with Iceland, known as the Hoyvík Agreement. In the Nordic Council, they are represented as part of the Danish delegation. In certain sports, the Faroe Islands field their own national teams. (wiki)
15x10.5 cm