ERJ staff report (BC)
Xinhua - Thailand has called on foreign tire producers to open plants in the country in an effort both to promote its domestic market and simultaneously to contain its rubber export volume.
Deputy Agriculture Minister Yutthapong Charasathian said on Tuesday that the Thai government has sounded out leading tire manufacturers in the United States, China and Japan, to expand their tire manufacturing operations in the country.
To prevent surpluses in world rubber markets, which would otherwise depress prices, Thailand has resolved to reduce its yearly export volume of rubber by 170,000 tonnes while Malaysia and Indonesia also agreed to cut their own export volumes by a combined 130,000 tonnes annually.
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