Singapore and New Zealand inked the world's first legally-binding bilateral supply chain resilience agreement on Monday (May 4) — with the two countries committing to continue trading essential products, including food, fuel, healthcare and chemical products — even during times of crisis.The Singapore-New Zealand Agreement on Trade in Essential Supplies (AOTES) was signed by Minister-in-charge of Energy, Science and Technology Dr Tan See Leng and his New Zealand counterpart Todd McClay, at the annual leaders' meeting.«Under the agreement, Singapore and New Zealand commit not to impose unnecessary export restrictions on agreed essential supplies, including, food, fuel, healthcare and chemical products,» Singapore's Ministry of Trade and Industry said in a statement.It added that the agreement will also provide a framework for both countries to facilitate the movement of goods, share information and engage in consultations before or during supply chain disruptions, thereby providing businesses and consumers on both sides with greater confidence and stability during supply chain disruptions. Read more