RUBBER CONFERENCE TO EXTEND DEADLINE

9:06 AM Mar 6, 1996

RUBBER CONFERENCE TO EXTEND DEADLINE
Geneva 4 Mar (TWN) -- The UN conference on natural rubber has been reconvened by the UNCTAD Secretary-General, to meet on 28 March for a one-day session for the sole purpose of extending the period for signature of the 1995 International Natural Rubber Agreement.

The deadline for signature set by INRA 1995 was 28 December, 1995.

But that deadline passed without sufficient ratifications from the importing countries to enable the INRA to come into force.

Thailand, Indonesia, Malaysia and Sri Lanka, accounting among themselves for 94% of world exports have signed up. On the importing side the EU and Japan accounting for 48% have also signed up.

But even for provisional entry into force, INRA requires importers accounting for a total of 75% to sign.

The United States is the major importing/consumer country, and accounting for a 28.8% share of the world rubber imports, has not signed. The budget deadlock between Congress and the White House, and the resulting closure of government offices in December is being given as one of the reasons for US non-signature. It is however expected to attend the one-day meeting.