00:00Singapore and New Zealand have signed a new trade agreement to strengthen supply chains and safeguard the flow of critical
00:07goods
00:07as both look to protect their trade-dependent economies from disruption linked to the conflict in Iran.
00:14Singapore's Prime Minister Lawrence Wong says the two countries are committed to keeping essential goods moving even during shortages or
00:22emergencies.
00:24The agreement was announced during an official visit by New Zealand Prime Minister Christopher Luxon to Singapore.
00:30Wong said both countries will avoid trade restrictions and ensure continued access to key supplies including food, fuel and other
00:38essentials.
00:39Luxon also noted that about one-third of New Zealand's fuel is refined in Singapore, making the city-state stability
00:46key to its energy security.
00:48The deal comes amid wider regional efforts to manage supply chain risks linked to tensions involving Iran and concerns over
00:56the Strait of Hormuz.
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