INRO to abolish working group<\/p>\n
KUALA LUMPUR (Reuters): The International Natural Rubber
\nOrganization (INRO) on Wednesday decided to discontinue a working
\ngroup set up to chart the future of international cooperation in
\nnatural rubber, INRO acting executive director Gerard Loyen said.<\/p>\n
INRO's governing council had agreed in September to set up the
\nopen-ended working group following the dissolution of the world
\nrubber body.<\/p>\n
The discontinuation of the working group was decided after a
\nmeeting between its members and a task force comprising non-
\ngovernmental organizations and the private sector.<\/p>\n
Loyen told reporters that the decision was made after
\nconsidering the cost involved and the existence of the
\nInternational Rubber Study Group (IRSG).<\/p>\n
"It was decided that the working group would not go further
\nand that the future of international cooperation in natural
\nrubber should be considered at the IRSG," he said.<\/p>\n
INRO was formally dissolved in October after leading producers
\nThailand and Malaysia decided to quit the world's last producer-
\nconsumer commodity pact.<\/p>\n
Thailand is the world's top rubber producer and exporter while
\nMalaysia ranks third after Indonesia.<\/p>\n
Loyen also said the council will formally decide on the timing
\nand method of selling rubber stocks held by INRO on Thursday.<\/p>\n
Delegates attending a special session of INRO in Malaysia's
\ncapital said members informally agreed on Wednesday to dispose
\nINRO's buffer stock of 140,000 tons within 18 months from January
\nand that selling would be done through open tender.<\/p>\n
Under INRO rules, the organization has up to three years to
\nliquidate the stockpile.<\/p>\n
A delegate said it was also decided that up to 34,000 tons of
\nrubber can be sold in a month.<\/p>\n
"After a lengthy discussion and efforts from all members, the
\nresolutions have been adopted regarding the timing and procedures
\nfor the orderly disposal of stocks. They will be decided by the
\ncouncil tomorrow," Loyen said.<\/p>\n
Producers and consumers earlier could not agree on the time
\nframe and method for the disposal of the buffer stock.<\/p>\n
Delegates said Malaysia had wanted the stocks to be disposed
\nwithin six months, a proposal strongly opposed by Indonesia.<\/p>\n
Also, the European Union was said to prefer sales to be made
\nthrough brokers while another major consumer, the United States,
\nwanted tire manufacturers to bid directly.<\/p>\n
INRO's governing council would also discuss a budget for 2000
\nand the appointment of a new executive director on Thursday.
\nThe special session is scheduled to end on Friday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/inro-to-abolish-working-group-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}