AFTER enduring the better part of the last 2 years with some of the world’s strictest pandemic restrictions in place, the message from the New Zealand government is that the country is ready to roll out the welcome mat to overseas travellers and foreign investors in a big way once again.

The harsh lockdown measures in what was once known as “Fortress New Zealand” have largely eased, there is no longer a need for vaccine passes and mandates, daily caseloads have fallen, and international travel - both inbound and outbound - is gradually resuming. 

From 11.59 pm on May 1, fully vaccinated travellers from visa-waiver countries including Singapore can enter New Zealand without the need for quarantine upon arrival.

“Yes, we are fully open for business. There’s a huge amount of pent-up energy,” said Minister for Trade and Export Growth Damien O’Connor on Wednesday (Apr 20), as he urged companies big and small from Singapore, the region and beyond to invest in New Zealand.

“As with many other countries elsewhere, we’ve got a shortage of skills and labour in certain areas and sectors. But we are rebuilding that capacity. It’s a challenge, but we are well positioned to do so,” the 64-year-old told The Business Times in an interview.

O’Connor is the only minister to accompany Prime Minister Jacinda Ardern to Singapore in what is her first overseas visit since the start of the Covid-19 pandemic. Also with them is a trade mission comprising business leaders from firms in the dairy, food and beverage, healthcare, aviation, tourism, supply chain and energy sectors.

The New Zealand delegation landed on Monday for the first leg of a week-long trip that will also take them to Japan.

Singapore is New Zealand’s fifth-largest trading partner, with a total of NZ$6.56 billion (S$6.08 billion) in two-way trade in 2021. New Zealand is currently the Republic’s 32nd largest trading partner.

In 2020, Singapore’s direct investment abroad in New Zealand amounted to S$3.85 billion, an increase of 8.45 per cent from the previous year. As of 2020, New Zealand’s stock foreign direct investment in Singapore stood at S$1.8 billion, a 20.4 per cent decline year on year. 

Singapore and New Zealand are also members of several multilateral free-trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Regional Comprehensive Economic Partnership and the Digital Economy Partnership Agreement.

One of the highlights of PM Ardern’s visit to Singapore was the announcement on Tuesday that the 2 countries have added a new fifth pillar - on climate change and the green economy - in their Enhanced Partnership.

This presents many new business and expansion opportunities for Singapore firms, said O’Connor as he stressed the need to focus more heavily on the threat of climate change as the world continues to emerge from the pandemic.

“Everywhere I’ve gone in the last 2 years, everyone is talking about emissions reduction and sustainability. Those are the new areas of opportunity that we see,” he said.

“And the conflict in Ukraine is contributing to inflationary pressures through higher oil prices and supply-chain interruptions, which were already a challenge with Covid-19, but now further exacerbated by the Ukraine crisis. So whether you’re a big or small business, your supply chain and business model are being challenged, and this adds a sense of urgency to the areas of climate change and sustainability.”

O’Connor was speaking to BT on the sidelines of an event held at a private wine club in Scotts Road, where PM Ardern witnessed the signing of 2 partnerships to accelerate innovation in trade, food and technology.

Enterprise Singapore and New Zealand Trade and Enterprise signed the Enhanced Partnership for Growth Arrangement to reaffirm the joint commitment to strengthen bilateral trade and investment.

The Singapore Institute of Technology signed a collaboration agreement with The FoodBowl, a food-innovation network supported by the New Zealand government, to develop sustainable food innovations.

“Whenever we consider trade with Asia, Singapore is the first place we think of. It’s the gateway, and it will remain so for a long time to come,” said O’Connor. “We share values and aspirations around innovation and energy, which both our countries have developed over the years.”