Malaysia, Thailand and Indonesia are working on the establishment of a regional rubber market in a bid to create a playing ground for producers, consumers and market players.

Malaysian Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas said on November 21 that the market is to be debuted in the next 18 months as its framework has been completed.

It will initially serve as an electronic platform that merges the three countries’ rubber exchanges and launch transactions one month later, he noted.

The countries are required to make their report on the national rubber outputs and table them to the Ministerial Committee by the end of this year.

Thailand, Malaysia and Indonesia are together accounting for 70 percent of the global rubber outputs.-VNA