New Zealand and Singapore signed an agreement on May 4 to keep supply chains open in times of crisis, as global energy supplies remain disrupted by the Iran war.
Singaporean Prime Minister Lawrence Wong and his New Zealand counterpart, Prime Minister Christopher Luxon, witnessed the signing of the Agreement on Trade in Essential Supplies (AOTES), which the Singaporean Ministry of Foreign Affairs described in a statement as “the world’s first legally-binding bilateral supply chain resilience agreement.”
“It underscores Singapore’s and New Zealand’s commitment to facilitate bilateral trade flows even in times of supply chain disruptions,” the ministry said.
The AOTES ensures that neither country imposes unnecessary export restrictions on a list of agreed essential items, including food, fuel, chemicals, construction, and health care products….
New Zealand and Singapore Sign Landmark Deal to Protect Supply Chains
