International Natural Rubber Agreement

International Natural Rubber Agreement

International Natural Rubber Agreement Outline

The International Natural Rubber Agreement has a relatively short history compared to other commodity agreements. A number of natural rubber exporting and importing countries made the first agreement on natural rubber in 1976 for the purpose of coordinating their policies and stabilising the price of natural rubber. The first International Natural Rubber Agreement was made in 1979, which entered into provisional operation in 1980 and became formally operative in 1982. Its task was to avoid excessive price fluctuations by way of maintaining buffer stocks. The second agreement entered into force in 1989 and expired in 1994. A new agreement was negotiated in 1993 and the result is yet to be known. INRO was set up in 1980 to administer the agreement. There are more than 30 members in the organization. INRO’s headquarters are in Kuala Lumpur.(1)

Resources

Notes

  1. John Mo, International Commercial Law

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