Considerable hype, but of interest are - review of Rules
of Origin in 2003 - exploration of steps to "reduce technical barriers to
trade in telecommunications equipment, pharmaceuticals, chemicals, pressure
vessels and timber building products". Pharmaceuticals, chemicals, are particularly
significant in terms of safety standards etc. – work programme to extend
services commitments in telecommunications, postal services, credit reporting
services, and disaster insurance, and other sectors as may be mutually agreed.
- encouraging mutual recognition of qualifications, especially for engineers,
planners, architects, landscape architects, registered valuers, dentists,
dental technicians, doctors, nurses, and midwives, - "review the status of
investment limitations, with a view to reducing or removing them".
"We have instructed our officials to start immediate work on this work
programme. Officials will meet not less
than 6 months prior to the next Ministerial Review with a view to drawing up recommendations
for our consideration. We have agreed
to meet again in New Zealand in late 2003."
Agreement between New Zealand
and Singapore on a Closer Economic Partnership (ANZSCEP)
Joint Statement by New Zealand Minister for Trade Negotiations, Jim
Sutton,
and Singapore Minister for Trade and Industry, BG George Yeo
27 November 2001
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1. |
The ANZSCEP came into
force on 1 January this year. At our meeting, we reviewed the
implementation to date of our Agreement and put in place a work programme,
which will give further impetus to reducing barriers to trade in goods and
services and encouraging bilateral investment flows. |
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2. |
We also took the opportunity to reflect on the strategic reasons for
developing our Closer Economic Partnership. We reaffirmed the strategic
importance of creating and maintaining open and competitive markets.
This has become all the more important in view of the global economic
downturn. The comprehensive nature of the Agreement provides a model
for others to follow and injects momentum to other regional and multilateral
trade initiatives such as APEC and WTO. |
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3. |
We noted with satisfaction that economic relations have improved since
the conclusion of the CEP. Despite the global downturn, bilateral trade
expanded during the first nine months of 2001. In particular, Singapore
exported more petroleum and petrochemicals products to New Zealand. New
Zealand's exports to Singapore had diversified with increased exports of
manufactured items. Strong growth was recorded in exports of mechanical
machinery, optical instruments and iron and steel products. We reviewed
the operation of the rules of origin and are satisfied that only goods of Singapore
and New Zealand origin are benefiting from the preferences accorded under the
Agreement. |
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4. |
The CEP has raised the profile of each country in the other's market and
has stimulated greater interest among our business communities in exploring
new opportunities for bilateral trade and investment. Singapore's
Economic Development Board has sent three trade missions to New Zealand this
year. New Zealand's Minister of Research, Science and Technology led an
investment mission to Singapore in September to develop linkages in the IT
and biotechnology sectors. We have become close partners in promoting
bilateral trade and investment. We are currently exploring initiatives
to promote collaborative opportunities for New Zealand and Singaporean small
and medium enterprises. |
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5. |
We believe the CEP has laid a good foundation for future bilateral
trade in goods and services, and investment. We are committed to
building on this momentum to ensure that our CEP achieves its full potential.
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6. |
To this end, we have agreed on a work programme that will include the
following: |
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For statistical clarity, we have agreed to exchange bilateral trade
data on a 6-monthly basis. |
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Trade in Goods |
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As envisaged in our Agreement, we will review the rules of origin for
trade in goods, including the requirements necessary for goods to benefit
from the Agreement, with a view to improving bilateral trade flows. In
this regard, our officials will draw up recommendations on improved rules for
our consideration at the 2003 Ministerial Review. |
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Customs Procedures |
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We have agreed to strengthen co-operation in customs procedures and
have instructed our officials to finalize in the near future Administrative
Guidelines between the relevant authorities on verification of rules of
origin of goods. These Guidelines will take into account the systems of
both parties. |
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Technical Barriers |
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We have instructed our officials to explore widening the existing
ANZSCEP sectoral annex on electrical and electronic equipment to include
electro-magnetic compatibility (EMC) and gas appliances, as well as working
towards mechanisms (such as mutual recognition agreements) to reduce
technical barriers to trade in telecommunications equipment, pharmaceuticals,
chemicals, pressure vessels and timber building products. |
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Services |
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We reaffirm our commitment to progressive liberalization in trade in
services between us. We have instructed our officials to continue work
in this regard, including conducting a substantive exchange of sectoral
requests and offers, with a view to drawing up recommendations on additional
commitments for our consideration. The work programme will include: |
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Investment |
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In underscoring the importance of increasing bilateral investment
flows for our economic development, we affirm our commitment to liberalizing
our bilateral investment relationship. To this end, we will actively
explore mechanisms for facilitating investment and will review the status of
investment limitations, with a view to reducing or removing them. |
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We will work to further promote investment and venture capital flows
between the two countries. |
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SMEs |
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We will seek to establish mechanisms to assist our small and medium
enterprises (SMEs) to maximize business opportunities. This may include
promotional activities in each other's markets, joint exploration of
commercial opportunities in third countries, and other forms of
collaboration. |
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7. |
We have instructed our officials to start immediate work on this work
programme. Officials will meet not less than 6 months prior to the next
Ministerial Review with a view to drawing up recommendations for our consideration.
We have agreed to meet again in New Zealand in late 2003. |
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