Holidaying in Singapore to get easier under improved Free Trade Agreement
Thomas Coughlan17:31, Dec 30 2019
NZ, UK Trade Ministers meeting
Preliminary post-Brexit talks between Trade and Export Growth Minister David Parker and his UK counterpart International Trade Secretary Liz Truss, started on Monday.
New Zealanders travelling to Singapore will be able to stay for three times as long without needing a visa, after an upgrade to New Zealand's free trade agreement with Singapore comes into force on January 1.
Currently, New Zealanders can stay in Singapore for one month without needing a visa, but this will be increased to three months.
Other changes include increased rights for New Zealand companies to second staff to Singaporean offices, streamlining Customs clearance for exports to Singapore and simplifying cross border requirements for primary products.
Trade Minister David Parker said the current international climate made the agreement more important than ever.
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"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," he said.
The agreement upgrades the Closer Economic Partnership with Singapore, one of New Zealand's most swiftly concluded free trade agreements. It took less than a year to negotiate, and was signed in 2000, coming into force in 2001. Negotiations for the update were completed in November 2018 and signed in May 2019.
The agreement helped turn Singapore into New Zealand's largest trading partner in South East Asia, with $5.2 billion of two-way trade and $5.1 billion of two-way direct investment in 2018.
New Zealand companies will be able to send staff to their Singaporean offices for up to eight years.
123RF
New Zealanders will be able to holiday in Singapore for longer.
The agreement will modernise rules for trading goods, making Customs procedures easier, and update ways of addressing non-tariff barriers for goods like wine, spirits, cosmetics, pharmaceuticals and medical devices.
Parker said the agreement was part of a shared commitment to the international rules-based system.
"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," he said.
Parker said the Government had been working on a trade agenda to "address the concerns of New Zealanders and other people around the world about the excesses of capitalism that can be enabled by trade and investment rules".
But he said the Government was continuing to push for greater access to foreign markets.
Parker also said bilateral agreements like the Singapore upgrade or multilateral agreements like the Comprehensive and Progressive Trans-Pacific Partnership had become more important as the World Trade Organisation had come under threat.
TOM LEE/STUFF
Trade Minister David Parker says New Zealand's partnership with Singapore is "more important than ever".
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EU to work on Canada-style free trade agreement for Britain
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Thomas Coughlan17:31, Dec 30 2019
NZ, UK Trade Ministers meeting
Preliminary post-Brexit talks between Trade and Export Growth Minister David Parker and his UK counterpart International Trade Secretary Liz Truss, started on Monday.
New Zealanders travelling to Singapore will be able to stay for three times as long without needing a visa, after an upgrade to New Zealand's free trade agreement with Singapore comes into force on January 1.
Currently, New Zealanders can stay in Singapore for one month without needing a visa, but this will be increased to three months.
Other changes include increased rights for New Zealand companies to second staff to Singaporean offices, streamlining Customs clearance for exports to Singapore and simplifying cross border requirements for primary products.
Trade Minister David Parker said the current international climate made the agreement more important than ever.
Share
Play Video
2m 16s
Government cut red tape on investments
David Parker fronts a press conference on the Government's proposed changes to cut red tape and give decision-makers the ability to consider the broader impact on New Zealand of potential investments.
READ MORE:
* Trade deals tether New Zealand to calm, predictable shores
* If we depend on Chinese trade, can we still speak out against China when needed
* Apec, CPTPP, RCEP: The alphabet soup nourishing NZ's economy
"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," he said.
The agreement upgrades the Closer Economic Partnership with Singapore, one of New Zealand's most swiftly concluded free trade agreements. It took less than a year to negotiate, and was signed in 2000, coming into force in 2001. Negotiations for the update were completed in November 2018 and signed in May 2019.
The agreement helped turn Singapore into New Zealand's largest trading partner in South East Asia, with $5.2 billion of two-way trade and $5.1 billion of two-way direct investment in 2018.
New Zealand companies will be able to send staff to their Singaporean offices for up to eight years.
123RF
New Zealanders will be able to holiday in Singapore for longer.
The agreement will modernise rules for trading goods, making Customs procedures easier, and update ways of addressing non-tariff barriers for goods like wine, spirits, cosmetics, pharmaceuticals and medical devices.
Parker said the agreement was part of a shared commitment to the international rules-based system.
"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," he said.
Parker said the Government had been working on a trade agenda to "address the concerns of New Zealanders and other people around the world about the excesses of capitalism that can be enabled by trade and investment rules".
But he said the Government was continuing to push for greater access to foreign markets.
Parker also said bilateral agreements like the Singapore upgrade or multilateral agreements like the Comprehensive and Progressive Trans-Pacific Partnership had become more important as the World Trade Organisation had come under threat.
TOM LEE/STUFF
Trade Minister David Parker says New Zealand's partnership with Singapore is "more important than ever".
Share
Play Video
42s
EU to work on Canada-style free trade agreement for Britain
Brussels (AFP) - The EU announces it will work on a post-Brexit free trade agreement modelled on the bloc's deal with Canada, saying Britain's insistence on leaving the single market and customs union left no alternative. ...
Stuff
