ITRO begins operations

JAKARTA, Indonesia (Jan. 7)—Indonesia, Malaysia and Thailand on Jan. 1 launched their joint plan to bolster natural rubber prices through cutting NR production by 4 percent and exports by 10 percent. The moves are under the Tripartite Rubber Cooperation agreed recently by the three countries. At a meeting on Dec. 12 in Bali, ministers of the three countries also agreed to establish the International Tripartite Rubber Organization. The group, headquartered in Thailand, is to report to a governing council represented by the three countries. Each country will set up a National Tripartite Rubber Corp. or designate an agency, as a subsidiary of the ITRO to implement and monitor the agreed-to measures, according to a statement issued at the meeting in Bali. Private sector firms within the three countries are supporting the initiative by establishing the Tripartite Rubber Business Alliance, the statement said.