Singapore, New Zealand Lock In Fuel, Food Supplies Deal

(MENAFN) Singapore and New Zealand have signed a new Agreement on Trade in Essential Supplies (AOTES), aiming to secure critical goods flows as global energy markets face disruption from the ongoing Middle East conflict.

The deal was finalized Monday during talks in Singapore between Prime Minister Lawrence Wong and New Zealand Prime Minister Christopher Luxon, according to an official statement.

Under the agreement, both countries commit to avoiding export restrictions on each other, strengthening cooperation on supply chain resilience, and ensuring the continued movement of key goods such as fuel and food.

“The past few months have shown we live in a volatile world - Kiwis are seeing that every time they fill up their car. That is why we are hustling in the world to protect New Zealand and build our resilience in uncertain times,” said Luxon.

The agreement “is a demonstration of New Zealand and Singapore working together as trusted partners. In times of crisis, we know we can rely on each other,” he added.

The pact comes as the U.S.-Israeli conflict with Iran continues to disrupt energy supplies from the Middle East to much of Asia.

Wong emphasized the strength of bilateral ties, noting Singapore’s relationship with New Zealand “stands out because of our shared strategic perspectives as small, open economies and the deep trust we have built.”

“We are prepared to pioneer new approaches together and stand by each other, especially when it matters the most. We’ve done that today, with AOTES - a first-of-its-kind arrangement to safeguard the flow of essential goods during disruptions,” Wong said in a brief statement through U.S. social media platform X.

Singapore and New Zealand, which established diplomatic relations in 1965, elevated ties to an “Enhanced Partnership” in 2019. Bilateral trade reached approximately $6.5 billion last year.

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