SINGAPORE All hurdles in the way of the Singapore-New Zealand free trade tie up have been overcome and the accord will take effect on January 1, AFP quoted the Singapore government as saying on Friday.
The agreement commits both nations to tearing down tariff barriers in trade and services.
New Zealand Trade Negotiations Minister Jim Sutton and Singapore's high commissioner to Wellington Tan Ken Jin have exchanged diplomatic notes confirming all legal and constitutional procedures were in place, the statement said.
Under the accord, tariffs on goods and services will be eliminated once the agreement comes into force on January 1, 2001.
Singapore has granted improved access for New Zealand supplies in a range of services, including education, telecommunications, courier, environmental, medical, health and social services, architecture and engineering services.
New Zealand liberalized access in engineering, computer, transport, dental, environmental and some business services.
In addition, New Zealand will have guaranteed access to major Singaporean government procurement contracts.
"The agreement reflected the commitment of both Singapore and New Zealand to maintaining momentum of trade liberalization in the South Pacific," the statement said.
It is the first completed free trade agreement for Singapore which is negotiating others with the United States, Japan, Canada, Mexico and Australia.
New Zealand has a long-standing closer economic relationship agreement with neighbor Australia.