Singapore, NZ sign deal to secure supply chains
Singapore and New Zealand have signed a new agreement aimed at keeping supply chains open during times of crisis, with both countries inviting others to join the initiative.
The deal, known as the Agreement on Trade in Essential Supplies, was signed during New Zealand Prime Minister Christopher Luxon’s visit to Singapore, alongside his counterpart Lawrence Wong, News.Az reports, citing Reuters.
The agreement ensures that both nations can continue trading key goods during disruptions, including fuel, medical supplies, and construction materials. The move comes as global supply chains face increasing strain, partly due to ongoing geopolitical tensions and conflicts.
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Luxon described the agreement as a “world first” and said it could serve as a model for other countries seeking to maintain stable trade flows in uncertain times.
Wong also signaled openness to expanding the framework, noting that similar partnerships in the past have grown into broader multilateral agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
The initiative reflects growing efforts by countries to strengthen economic resilience and cooperation amid a shifting global order, with both leaders emphasizing the importance of trusted partnerships and coordinated responses to future crises.
By Aysel Mammadzada
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