The Indonesian government has offered to cooperate with Thailand and Malaysia to stabilise the sluggish price of rubber.
“Indonesia, Thailand, and Malaysia are three major rubber exporting countries. Hence, Indonesia has emphasised the need to strengthen cooperation in stabilising the rubber price, because the three nations are the most affected by the global decrease in rubber price,” Indonesian Foreign Affairs Minister Retno L.P. Marsudi stated here, Wednesday, following a bilateral meeting with her Thai counterpart, Don Pramudwinai.
The decrease in rubber price has become a cause of common concern for Indonesia and Thailand, both of which are major producers of the commodity.
The two ASEAN member countries have agreed to discuss common efforts to stabilise the rubber price, which has decreased over several months.
Meanwhile, the bilateral trade balance between Indonesia and Thailand had reached US$17.77 billion in 2018.
Indonesia’s exports to Thailand included machines, electricity equipment, food, paper products, and vehicle accessories.
Thailand has mainly exported motor vehicles, metal products, steel, textiles, and food to Indonesia.