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.
ITRO begins operations
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