Singapore Closer Economic Partnership Agreement treaty text published

The text of the Agreement between New Zealand and Singapore on a Closer Economic Partnership has been tabled in Parliament, Minister for Trade Negotiations Jim Sutton said today.

Mr Sutton said that Cabinet had considered and approved the text of the Agreement yesterday.

Cabinet had also agreed that the text should immediately be submitted to Parliament for consideration in the normal manner, and released publicly. It was expected that the Agreement would be referred to the Select Committee on Foreign Affairs, Defence and Trade.

Mr Sutton said his Singapore counterpart, Brigadier-General George Yeo, had told him that the Singapore Cabinet had also just approved the text of the agreement.

"There is a high degree of public interest in this agreement. I am delighted that MPs and the public will now have an opportuniity to have their say on it."

The text of a National Interest Analysis, which examines the benefits and impacts on New Zealand from signing this Agreement, was released at the same time.

Mr Sutton said amending legislation would be required to be passed by Parliament, in particular to provide for the removal of remaining tariffs on Singapore's exports to New Zealand.

He said that, depending on the timing of the passage of amending legislation, the agreement could come into force on January 1, next year.

ENDS

NOTE: the S-CEP text is available at www.executive.govt.nz

Office of Hon Jim Sutton

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