Kiwi export businesses should start to see the benefits of the upgraded Closer Economic Partnership with Singapore, now that the agreement has come into force.
Minister for Trade and Export Growth David Parker said the agreement, which came into force on January 1, 2020, would open more opportunities for New Zealand companies looking to do business with our largest trading partner in South East Asia.
“New Zealand visitors to Singapore will be able to visit the city-state visa-free for three months – up from one month under the existing agreement. Our companies with offices in Singapore will now be able to send employees to work there for up to eight years,” David Parker said.
The CEP also streamlines customs clearance for exports to Singapore and includes new arrangements which will simplify cross border requirements for primary products.
“New Zealand is pursuing a trade agenda that ensures the benefits of trade are shared by all our people and contributes to the international rules and systems that have served us well over the past 25 years.
“At a time when the rules-based system is facing challenges, our partnership with Singapore and our upgraded free trade agreement is more important than ever,” David Parker said.
The text of the CEP upgrade and national interest analysis are available at: www.mfat.govt.nz/singaporecep