Agreement between New Zealand and Singapore on a Closer Economic Partnership
Encyclopedia
The Agreement between New Zealand and Singapore on a Closer Economic Partnership (CEP) entered into force on 1 January 2001. It is the most comprehensive trading agreement, outside of Closer Economic Relations with Australia
, that New Zealand
has negotiated. The CEP aims to build on the close historical ties between Singapore
and New Zealand by improving opportunities for trade in goods, services and investment.
The two governments announced their intention to negotiate an agreement in September 1999 and negotiations were completed within one year. New Zealand PM Helen Clark
and PM Goh Chok Tong
signed the Agreement between New Zealand and Singapore on a Closer Economic Partnership (ANZSCEP), in a signing ceremony held on 14 November 2000 in Singapore. Singapore hosted the 1st Ministerial Review of the Agreement in November 2001, while New Zealand hosted the 2nd Ministerial Review of the Agreement in July 2004.
The CEP is comprehensive, covering goods, services, investment and technical and hygiene/quarantine barriers to trade in goods.
Over the 2 years since the agreement came into effect, Singapore's bilateral trade with New Zealand rose from $0.97 billion (2000) to S$1.09 billion (2002), an increase of 12.6%.
Beyond providing improved market access, the ANZSCEP also brings economic cooperation between Singapore and New Zealand to new heights. In 2002, New Zealand set up her first overseas technology center in Singapore to support New Zealand companies in commercializing technologies and internationalizing business.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, that New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
has negotiated. The CEP aims to build on the close historical ties between Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and New Zealand by improving opportunities for trade in goods, services and investment.
The two governments announced their intention to negotiate an agreement in September 1999 and negotiations were completed within one year. New Zealand PM Helen Clark
Helen Clark
Helen Elizabeth Clark, ONZ is a New Zealand political figure who was the 37th Prime Minister of New Zealand for three consecutive terms from 1999 to 2008...
and PM Goh Chok Tong
Goh Chok Tong
Goh Chok Tong is the Senior Minister of Singapore and the chairman of the central bank of Singapore, the Monetary Authority of Singapore. He also served as the second Prime Minister of the Republic of Singapore from 28 November 1990 to 12 August 2004, succeeding Lee Kuan Yew, the former Prime...
signed the Agreement between New Zealand and Singapore on a Closer Economic Partnership (ANZSCEP), in a signing ceremony held on 14 November 2000 in Singapore. Singapore hosted the 1st Ministerial Review of the Agreement in November 2001, while New Zealand hosted the 2nd Ministerial Review of the Agreement in July 2004.
The CEP is comprehensive, covering goods, services, investment and technical and hygiene/quarantine barriers to trade in goods.
Over the 2 years since the agreement came into effect, Singapore's bilateral trade with New Zealand rose from $0.97 billion (2000) to S$1.09 billion (2002), an increase of 12.6%.
Beyond providing improved market access, the ANZSCEP also brings economic cooperation between Singapore and New Zealand to new heights. In 2002, New Zealand set up her first overseas technology center in Singapore to support New Zealand companies in commercializing technologies and internationalizing business.