Floundering world tin body to undergo restructuring<\/p>\n
KUALA LUMPUR (AFP): The Association of Tin Producing Countries
\n(ATPC), which is soon to lose Australia and Thailand as members,
\nis to be restructured next year to remain relevant, a report said
\nyesterday.<\/p>\n
ATPC's new chairman, Muhammad Kaloma Ali of Nigeria said in
\nremarks published here Thursday that the restructuring proposal
\nwas expected to be presented to ATPC ministers for approval in
\nMay next year.<\/p>\n
It would coincide with the time the ATPC was to decide on
\nwhether it should reintroduce its 1987 export-quota mechanism
\nwhich was disbanded last June 30 after several ATPC members were
\nfound to have flouted the quotas.<\/p>\n
\"A draft proposal should be completed by late February,
\nperhaps between Feb. 24 and 27,\" Muhammad Kaloma, who arrived
\nhere Wednesday for a two-day visit, was reported saying by
\nBusiness Times English-language daily.<\/p>\n
Apart from Australia and Thailand which will cease to be
\nmembers of ATPC from December 10 and December 30 respectively,
\nthe producer-cartel groups Bolivia, China, Indonesia, Malaysia,
\nNigeria and Zaire. Brazil has observer status.<\/p>\n
Muhammad Kaloma said the group had at a two-day meeting in
\nSingapore earlier this week decided to put off a decision to
\nreintroduce the supply rationalization scheme (SRS) to May.<\/p>\n
The 13-year old ATPC had implemented the SRS to help deplete
\nsurplus tin and improve prices.<\/p>\n
When asked if the departure of the two members would weaken
\nthe group's agenda towards supply rationalization, Muhammad
\nKaloma said other countries had expressed keen interest in
\njoining ATPC, namely Peru, Brazil, Vietnam, Zimbabwe and
\nPortugal.<\/p>\n
Muhammad Kaloma said he has not received official
\nacknowledgement from Zaire to leave the association, although the
\ncountry had stopped producing tin and had not been attending ATPC
\nmeetings.<\/p>\n
He said a Malaysian official has been appointed as ATPC acting
\nexecutive secretary for a year following the resignation of
\nThailand's Jumrud Atikul. He did not name the official.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/floundering-world-tin-body-to-undergo-restructuring-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}