Singapore, New Zealand Urge Immediate, Unconditional Reopening Of Strait Of Hormuz

SINGAPORE, May 4 (Bernama) -- Singapore and New Zealand have called for the unconditional, unrestricted and immediate reopening of the Strait of Hormuz in response to the global energy crisis driven by ongoing conflicts in West Asia.

In a joint statement following the inaugural Singapore-New Zealand Annual Leaders’ Meeting on Monday, Singapore Prime Minister Lawrence Wong and New Zealand Prime Minister Christopher Luxon emphasised that the right of transit passage without restrictions or tolls is the bedrock of international trade.

Both premiers reaffirmed the importance of upholding the right of transit passage in the Strait of Hormuz, as well as all other straits used for international navigation, in accordance with the United Nations Convention on the Law of the Sea (UNCLOS).

"The closure of the Strait of Hormuz is having a significant impact on global supply chains, particularly on oil, gas and petrochemical products as well as essential goods and critical downstream derivatives such as fertilizers and plastics for packaging. 

"These impacts are being felt heavily in the Indo-Pacific and Pacific regions," the joint statement said.

Meanwhile, Singapore and New Zealand on Monday signed the Agreement on Trade in Essential Supplies (AOTES) to facilitate bilateral trade flows amid supply chain disruptions.

The agreement was inked in conjunction with Luxon’s three-day official visit to the republic.

Wong said the agreement is the world’s first of its kind between two countries, clearly signalling their commitment to ensuring the continued flow of essential goods trade.

"Even under strain, trusted partners will keep faith with one another and it means that even in times of crisis or shortages, we will keep essential goods flowing, food, fuel, and other critical supplies.

"We will not shut each other out, and instead, we will work actively to keep trade moving," he said during a joint press conference after witnessing the signing of AOTES.

According to the Singapore Ministry of Foreign Affairs, under the agreement, Singapore and New Zealand commit not to impose unnecessary export restrictions on agreed essential supplies, including food, fuel, healthcare, chemical and construction products.

The agreement also establishes a framework for both countries to facilitate the movement of goods, share information and engage in consultations before or during supply chain disruptions.

-- BERNAMA