PUBLISHED ONMay 04, 2026 5:48 AMBYSean LerSingapore and New Zealand inked the world's first legally-binding bilateral supply chain resilience agreement on Monday (May 4) — with the two countries committing to continue trading essential products, including food, fuel, healthcare and chemical products — even during times of crisis.
The Singapore-New Zealand Agreement on Trade in Essential Supplies (AOTES) was signed by Minister-in-charge of Energy, Science and Technology Dr Tan See Leng and his New Zealand counterpart Todd McClay, at the annual leaders' meeting.
"Under the agreement, Singapore and New Zealand commit not to impose unnecessary export restrictions on agreed essential supplies, including, food, fuel, healthcare and chemical products," Singapore's Ministry of Trade and Industry said in a statement.
It added that the agreement will also provide a framework for both countries to facilitate the movement of goods, share information and engage in consultations before or during supply chain disruptions, thereby providing businesses and consumers on both sides with greater confidence and stability during supply chain disruptions.
Speaking at the joint press conference after a meeting between the leaders of both countries, Prime Minister Lawrence Wong, noting that the agreement is first-of-its-kind, said AOTES sends a clear signal amid uncertainties.
He said: "Even under strain, trusted partners will keep faith with one another. And it means that even in times of crisis, or shortages, we will keep essential goods flowing — food, fuel, and other critical supplies.
"We will not shut each other out, and instead, we will work actively to keep trade moving."
He cautioned that even as countries may be tempted to look inwards during difficult times, "everyone ends up worse off", if they do so, because supply chains will break down.
Echoing this point, New Zealand Prime Minister Christopher Luxon illustrated the symbiotic relationship between the two countries.
He said that about one-third of New Zealand's fuel is refined in Singapore, which in turns affects New Zealand's economic resilience and energy security.
Meanwhile, New Zealand is also a trusted supplier of food and other essential goods to Singapore, with fuel being a part of the food security story.
PM Luxon said: "The diesel that we receive from Singapore underpins the farming and the freight systems that keep New Zealand's food moving into the region.
"This is a relationship which both countries can rely on one another — we have each other's backs."
@asiaone Speaking at the joint press conference on Monday (May 4), PM Lawrence Wong and his New Zealand counterpart set out why the new Agreement on Trade in Essential Supplies is important - not just for their people and businesses; but in sending a "clear signal" to other like-minded partners. #sgnews #Singapore #NewZealand #Trade #ForeignPolicy ♬ original sound - AsiaOne
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