ITRO renames itself, will set rules and name chairman shortly

BANGKOK, Thailand (Sept. 9)—The International Tripartite Rubber Organization plans to issue its operational rules and name a chairman before the end of September, according to news reports from Southeast Asia. The company arising from the agreement between Thailand, Malaysia and Indonesia has changed its name from the International Tripartite Rubber Consortium to International Rubber Co. Ltd., to accommodate nations such as Sri Lanka and Vietnam which have expressed interest in joining. IRC's goal is to cut natural rubber production among member nations by 4 percent annually and exports by 10 percent in an attempt to increase NR prices on world markets.