Singapore (VNA) – Singapore and New Zealand on May 4 signed a legally binding bilateral agreement to ensure the continued supply of essential goods even during crises – the first such pact in the world.
The agreement was inked by Singapore's Minister-in-charge of Energy, Science and Technology Tan See Leng and New Zealand's Minister for Trade and Investment Todd McClay at the Singapore – New Zealand Annual Leaders' Meeting in Singapore, in the presence of the prime ministers of both countries.
Both governments committed not to imposing unnecessary export restrictions on food, fuel, healthcare products and other essential goods, the Ministry of Trade and Industry (MTI) said.
Once domestic procedures are completed, the agreement will take effect and be incorporated into the existing bilateral free trade agreement. It also establishes a framework for both countries to facilitate the movement of goods, share information, and consult each other before or during supply chain disruptions, providing businesses and consumers with greater confidence and stability, MTI said.
Speaking at a joint press conference, Singaporean Prime Minister Lawrence Wong said the pact sends a clear signal that trusted partners will stand by each other even under strain.
New Zealand Prime Minister Christopher Luxon said the agreement is a practical step to strengthen resilience and promote growth.
Both sides also agreed to expand cooperation into defence and security, new technologies such as unmanned systems, and to enhance coordination in healthcare and food security.
Beyond the bilateral framework, the two countries will continue to cooperate within broader mechanisms such as the Future of Investment and Trade Partnership, of which both Singapore and New Zealand are founding members.
Currently, approximately 30% of New Zealand's fuel is refined in Singapore, while New Zealand is a reliable source of food and essential goods for Singapore./.
