Singapore, NZ commit to maintaining supply chains

Singapore and New Zealand will work to remove existing trade restrictive measures on essential goods, especially medical supplies, as both countries yesterday committed to maintaining connected supply chains amid the coronavirus outbreak.

In a joint statement, Singapore's Minister for Trade and Industry Chan Chun Sing and New Zealand's Minister for Trade and Export Growth David Parker said both countries "will work closely to identify and address trade disruptions".

The ministers recognised that it was in the mutual interests of both countries to ensure that trade lines remained open to facilitate the flow of goods, and affirmed the importance of refraining from imposing export controls, tariffs and non-tariff barriers.

They also committed to working with all like-minded countries to ensure that trade continued to flow unimpeded, and that critical infrastructure such as air and seaports remained open to support supply chains globally.

Since the coronavirus outbreak, the closure and suspension of businesses around the world has led to disruptions in global supply chains.

Mr Chan has, on multiple occasions, spoken about Singapore's supply chain resilience.

Early this month, he said that Singapore was reviewing its stockpile of essential items and also looking at diversifying its supply chains.

Singapore, New Zealand and Chile in January announced the conclusion of substantial negotiations for the Digital Economy Partnership Agreement, which will provide a common set of rules, standards and guidelines for global digital trade and commerce.

The agreement is scheduled to be signed and finalised at the upcoming Asia-Pacific Economic Cooperation meeting in Kuala Lumpur next month.

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A version of this article appeared in the print edition of The Straits Times on March 21, 2020, with the headline Singapore, NZ commit to maintaining supply chains. Subscribe