INRO had been established in 1980 to operate the International Natural Rubber Agreement the main purpose of which is to stabilize the price of natural rubber by buying for and selling from a buffer stock. INRO's terms of reference also cover measures to improve the status of natural rubber by encouraging research and other activities. Its headquarters are in Kuala Lumpur. At a meeting in September 1999 the participating nations agreed to terminate the Agreement and to liquidate the buffer stock. This operation is now taking place.