PUBLISHED ONMay 04, 2026 3:20 AMBYSean LerThe ongoing energy disruptions from the Middle East crisis do not just serve as a reminder that such shocks are becoming part of the new normal, but also, the need for businesses and markets to diversify, de-risk, and build resilience with trusted partners, said Prime Minister Lawrence Wong.
He was speaking at the New Zealand-Singapore Leadership Forum, organised by Singapore's Ministry of Trade and Industry (MTI) and New Zealand's Ministry of Foreign Affairs and Trade (MFAT), on Monday (May 4) morning.
The forum seeks to foster dialogue and collaboration between both governments with business leaders, to find ways to improve the business environment, and support investments both ways.
On the issue of supply chain resilience, which affects both businesses and consumers, PM Wong said episodes such as the Middle East crisis serve as reminders that such shocks are not one-offs, but "becoming part of the new normal".
"So we cannot assume that markets will always function as before. We have to diversify, de-risk, and build resilience into our systems. Governments have to do so. I'm sure businesses have to do this too, as part of your business continuity plans.
"And there is no better way to do this than by working with trusted partners. At the same time, there are also new opportunities to pursue together," he said.
PM Wong also noted that areas such as the digital and green economy present new opportunities for businesses in the two countries to pursue together and with the wider region, especially Asean.
He urged business leaders to stay ahead of the curve amidst a world undergoing "a fundamental shift".
"Governments and businesses alike will have to adapt.
"In this more uncertain environment, trusted partners matter more than ever. Singapore and New Zealand must work closely together — and we will," he said.
Speaking at the New Zealand-Singapore Leadership Forum on Monday (May 4), Prime Minister Lawrence Wong said Governments and businesses have to adapt amidst a world that is undergoing a "fundamental shift". #sgnews #Singapore #NewZealand #Businesses
PM Wong and his New Zealand counterpart will next hold an Annual Leaders' Meeting, before the two leaders witness the signing of a first-of-its-kind agreement on supply chain resilience — the Agreement on Trade in Essential Supplies.
[[nid:734908]]
