THE SPECIAL SENIOR OFFICIAL MEETING (SOM) OF THE INTERNATIONAL TRIPARTITE RUBBER COUNCIL (ITRC)
4 – 5 March 2019
1. ITRC Senior Officials from Thailand, Indonesia and Malaysia under the framework of the International Tripartite Rubber Council (ITRC) met on 4 – 5 March 2019 in Bangkok to finalise the details of the 6th Agreed Export Tonnage Scheme (AETS) implementation. This meeting was a follow-up on the decision made by the Special ITRC Ministerial Committee Meeting (MCM) 2019 on 22 February 2019 in Bangkok, Thailand.
2. The Governments of Thailand, Indonesia and Malaysia hereby agreed on the implementation of AETS for the period of 4 months starting on respective dates from 1 April 2019. Under the 6th AETS implementation, the 3 countries agreed for export cutbacks of 240,000 metric tonnes of NR.
3. The AETS will be implemented through their respective domestic regulators. In addition to that, a Monitoring and Surveillance Committee was established to monitor and ensure compliance of the 6th AETS implementation.
4. Senior Officials reiterated the decision of the Ministers in continuing the efforts to increase domestic NR consumption in ITRC Member Countries through Demand Promotion Scheme including Rubberised Road projects. Thailand, Indonesia and Malaysia are confident that this collaborative initiative will ensure remunerative prices for all rubber smallholders and other stakeholders in NR industry.