NZ, Singapore ink trade deal ‘keeping fuel flowing to NZ’
Monday, 4 May 2026
Singapore | New Zealand has signed a major new trade deal with Singapore, committing both countries to protecting the movement of food and fuel amid the global crunch looming large over New Zealand’s ability to import refined fuel.
The deal was signed at the Singaporean Ministry of Foreign Affairs and Trade by Todd McClay and his counterpart and was witnessed by Prime Minister Christopher Luxon and Singapore Prime Minister Lawrence Wong.
Called the Agreement on Trade in Essential Supplies (AOTES), it means that both countries guarantee they will not impose export restrictions on each other and will co-operate further on supply chain resilience.
Singapore provides about 30% of New Zealand’s fuel.
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The signing came after the two prime ministers opened the inaugural Singapore-New Zealand Leadership Forum, a day-long conference with over 70 chief executives, chairs and board directors from both countries.
“The past few months have shown we live in a volatile world - Kiwis are seeing that every time they fill up their car. That is why we are hustling in the world to protect New Zealand and build our resilience in uncertain times,” Luxon said
“The AOTES is a demonstration of New Zealand and Singapore working together as trusted partners. In times of crisis, we know we can rely on each other.
“With a third of New Zealand’s fuel refined in Singapore, this Agreement turns trust into action – and right now, that’s keeping fuel flowing to New Zealand when it matters most.”
Earlier in the day at the forum, Wong remarked that working together was going to become more important as global shocks and disruption becomes more common.
“Because we have been through the Covid pandemic, we know what it was like. We are now dealing with disruptions from the Middle East crisis. And these episodes remind us that perhaps, such shocks are no longer one-off — they are becoming part of the new normal in our business environment,” Wong said
Luxon and Wong, who share a close relationship, dined together at a private dinner with their spouses at the Fullerton hotel on Sunday night. Luxon joked that they both turned up realising they were dressed exactly the same.
New Zealand’s status as a food producer meant that the deal would be “leveraging that special skill to protect what Kiwi communities need”, Luxon said.
McClay said: “It is built on cooperation forged during the Covid-19 pandemic and recognises that reliable access to essential goods is most critical during times of crisis.”
The deal “establishes binding commitments preventing either government from imposing export restrictions on an agreed list of goods – including fuel, foodstuffs, construction materials, and other essential supplies”.
Once both domestic political systems approve the changes it will be wrapped into the current New Zealand-Singapore Free Trade Agreement.
Following the signing of the deal, the prime minister and Finance Minister Nicola Willis will head out to Jurong Island, Singapore’s oil refining hub.
Correction: A photo caption on an earlier version of this story referred to Singapore Trade Minister Gan Kim Yong. It is Minister-in-charge of Energy and Science & Technology Dr Tan See Leng. (Amended May 4, 2026 at 5.15pm)