Singapore: Singapore and New Zealand on Monday signed an Agreement on Trade in Essential Supplies (AOTES) amid the impact of the ongoing Middle East conflict on energy supplies. The pact was signed during a meeting in Singapore between Prime Minister Lawrence Wong and his counterpart from New Zealand, Christopher Luxon.

According to Anadolu Agency, the new framework guarantees that neither country will impose export restrictions on the other, formalizes practical cooperation on supply chain resilience, and protects the movement of essential goods such as fuel and food. Luxon highlighted the volatility of the current global situation, noting its effects on everyday life, such as rising fuel costs. He emphasized the importance of the agreement as a means to protect and build resilience for New Zealand in uncertain times.

Luxon further stated that the agreement represents the strong partnership between New Zealand and Singapore, highlighting the reliability of their cooperation in times of crisis. The ongoing US-Israeli conflict with Iran has significantly reduced energy supplies from the Middle East to various Asian nations, prompting this strategic collaboration.

Wong remarked on the significance of Singapore's partnership with New Zealand, citing their shared strategic perspectives as small, open economies and the deep trust between them. He expressed readiness to explore new approaches and support each other, especially during critical times. Wong described AOTES as a pioneering arrangement to ensure the flow of essential goods during disruptions.

The two nations established diplomatic ties in 1965 and upgraded their relationship to an "Enhanced Partnership" in 2019, with bilateral trade volume reaching approximately $6.5 billion last year.