Mr. Yium Tavarolit, the Chief Executive Officer (CEO) of the International Rubber Consortium Limited (IRCo) paid a courtesy call to H.E. Dr. Phouang Parisak Pravongviengkham (Left) and H.E. Dr. Phet Phomphiphak (Right), Vice Ministers of Agriculture and Forestry, Lao DPR on 17 March 2015 in Vientiane, Lao DPR.
The CEO of IRCo had an opportunity to highlight issues on current natural rubber (NR) market situation and the need for producing countries particularly from Cambodia, Lao DPR, Myanmar and Vietnam (CLMV) to cooperate and collaborate under the umbrella of the International Tripartite Rubber Council (ITRC) and IRCo on sustainable development of NR for the benefits of the smallholders/farmers.
In principal, Lao DPR agreed on ITRC’s plan to establish ASEAN Rubber Council (ARC) and a Regional Rubber Market to better manage NR trading and price discovery.
In this regard, senior officials from ITRC and CLMV will meet and discuss after the ITRC technical committee finalises the study on the establishment of a Regional Rubber Market. The officials will also meet to deliberate a paper on the establishment of ARC for the consideration and approval by related Ministers in charge of natural rubber from the 7 NR producing countries. A Joint Ministerial Meeting between the Ministers from ITRC and CLMV is scheduled to be held at the end of 2015 inIndonesia. A Memorandum of Understanding will be signed once the proposal is agreed by the Ministers.
– IRCo
