Singapore and New Zealand Sign Agreement to Ensure Stable Flow of Essential Goods During Crises

Central News Agency

(Central News Agency reporter Wu Sheng-hung, Singapore, 4th) As the Middle East conflict affects global supply chains, Singapore and New Zealand have signed an "Essential Goods Trade Agreement," pledging not to impose unnecessary export restrictions on essential goods such as food, energy, and medical supplies. Singapore also previously issued a statement with Australia, emphasizing that both sides will ensure the stable flow of necessities such as diesel and other petroleum products and liquefied natural gas.

New Zealand Prime Minister Christopher Luxon, currently visiting Singapore, today signed the "Essential Goods Trade Agreement" with Singapore Prime Minister Lawrence Wong, pledging not to impose unnecessary export restrictions on essential goods such as food, energy, medical supplies, and chemicals.

Lianhe Zaobao and The Straits Times reported today that Lawrence Wong stated at a press conference after the signing ceremony that this agreement is a breakthrough and sends a clear signal that even under pressure, trusted partners will stand by their commitments.

He said that if supply chains are disrupted, everyone's situation will become more difficult. "This agreement is our response, pledging to take a different approach, keep markets open, ensure the smooth flow of essential goods, and watch out for each other in critical moments."

The report pointed out that Lawrence Wong and Luxon attended the Singapore-New Zealand Leadership Forum. Lawrence Wong stated that after experiencing the pandemic, and now facing the impact brought by the situation in the Middle East, in a world undergoing profound changes, governments and businesses must adjust accordingly.

"We can no longer assume that markets will operate as usual; we must promote diversification, mitigate risks, and strengthen system resilience," Lawrence Wong pointed out. Singapore and New Zealand are actively exploring new areas of cooperation, including enhancing supply chain resilience, intending to seize emerging opportunities in the digital economy and green economy, focusing on regional cooperation, especially the ASEAN market with huge growth potential.

In addition to New Zealand, as the Middle East conflict affects global energy supply and price volatility, Singapore and Australia previously issued a joint statement, emphasizing that both sides will ensure the stable flow of necessities such as diesel and other petroleum products and liquefied natural gas; in the event of disruptions that may affect energy trade, both sides will promptly notify and consult. Lawrence Wong said in his Labor Day speech earlier that this war is expected "not to end in the short term," and supply chain disruptions may worsen in the coming months, and Singapore's economic growth this year may slow down. Since the United States and Israel jointly bombed Iran on February 28, the Strait of Hormuz, which carries one-fifth of the world's oil and natural gas shipments, has been affected. (Editor: Chang Chih-hsuan) 1150504

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