The Malaysian
Rubber Exchange (MRE) hosted the 5th ASEAN Rubber Business Council
meeting on 16 September 2006 in Kuala Lumpur in conjunction with its
Annual Dinner. Members of the Council, comprising the Rubber Association
of Indonesia (GAPKINDO), the Rubber Trade Association of Singapore
(RTAS), the Thai Rubber Association (TRA), the Vietnam Rubber Association
(VRA) and the Malaysian Rubber Exchange/Federation of Rubber Trade
Associations of Malaysia (MRE/FRTAM) attended the meeting. Officials
from IRCo, ANRPC and the Association for Rubber Development of Cambodia
(ARDC) also attended the Council meeting as observers. The meeting
discussed the latest issues affecting the rubber trade as well as
exchanged information on the rubber market and matters of mutual interest.
The current volatility in the rubber market and the unusual and extreme
price trends, which has resulted in defaults by both buyers and sellers,
were discussed and member associations of the Council were reminded
of the responsibility and conviction to create a more orderly and
trustworthy rubber trade. The meeting also expressed concern over
the recent untrue and unrealistic defaults reported in the media.
Following the meeting, the ARBC released a press statement to the
media. Press release by ARBC to the media (Click
here to view press release).
The Executive Committee and the Economics and Statistics Committee
of the ARBC met earlier on 14 September 2006 at the same venue.
This year's Council meeting saw the changeover of the ARBC chairmanship.
The President of RTAS who had already served as the Chairman for a term of two years under the rotation
system relinquished his post. The President of Thai Rubber Association will assume the Chairmanship of
the Council for the next two year period from 1/1/2007 to 31/12/2008.
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| Dato' Dr Kamarul Baharain bin Basir, Chairman
MRE presenting a token of appreciation to the outgoing Chairman,
Mr Ling Lee Hua of RTAS. |
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| Heads of delegation with some members of the
Council |
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| Malaysian delegates at the Council Assembly |
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Highlights of the 5th ASEAN Rubber Business Council Meeting