Malaysia unconcerned about global rubber pact<\/p>\n
KUALA LUMPUR (AFP): Malaysia has said it is unconcerned about
\nwhether a shaky global rubber price pact is agreed while
\npersisting in its demand for leadership of an international
\nrubber body, a report said yesterday.<\/p>\n
International Rubber Agreement (INRA) III, a pact hammered
\nout under the auspices of the United Nations in Geneva in
\nFebruary 1995, is in jeopardy after failing to garner enough
\nsupport by a Dec. 28-deadline set for agreement.<\/p>\n
"As far as Malaysia is concerned, it does not matter if there
\nis or is not INRA III. It's up to the consumer countries,"
\nPrimary Industries Minister Lim Keng Yaik Lim was quoted as
\nsaying.<\/p>\n
At the expiry of the deadline, only six of INRO's 27 members
\nhad signed the pact, which was to have succeeded the 1989-INRA II
\nthat expired on December 28 last year.<\/p>\n
Only four key INRO producer members -- Indonesia, Malaysia,
\nThailand and Sri Lanka -- and two consumers Japan and the
\nEuropean Union -- have signed, and those votes are insufficient
\nto bring the four-year pact into force.<\/p>\n
"The ball is with the consumers -- if they do not want to sign
\nin spite of the negotiations, don't even talk about
\nratification," Lim was reported saying in the Business Times
\ndaily.<\/p>\n
Legally, INRA III is now non-existent because of the lack of
\nsupport.<\/p>\n
Industry officials have said a fresh UN meeting would have to
\nbe convened to extend the deadline on agreement or approve the
\nbackdating of signatures to save the pact.<\/p>\n
If INRA III is not ratified, the International Rubber
\nOrganization (INRO), which is now in limbo pending a council
\nmeeting in April to decide its future, will have to wind up.<\/p>\n
Lim said Malaysia had signed INRA III as it felt that the pact
\nwould enhance stability of the rubber market and better
\norganization among the rubber producers and consumers.<\/p>\n
"The industry has in the past used INRA for its own unilateral
\nbenefit," Lim said.<\/p>\n
"Malaysia, now relegated to the world's third largest producer
\nand fifth largest consumer of natural rubber, knows the story of
\nboth sides," he added. Malaysia was formerly the world's largest
\nproducer.<\/p>\n
Malaysia will insist on getting the post of INRO executive
\ndirector, now vied by Indonesia, before ratifying the
\ninternational rubber agreement, the minister said.<\/p>\n
"As a matter of principle, as a matter of right, Malaysia
\nshould be given the post and if that is denied why should
\nMalaysia be in INRO," Lim asked.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/malaysia-unconcerned-about-global-rubber-pact-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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