Mfa Agreement

Posted in Chưa được phân loại

The Multifibre Agreement (MFA) was an international trade agreement on textiles and clothing that was in force from 1974 to 2004. It imposed quotas on the volume of clothing and textile exports from developing countries to industrialized countries. Since 1995, the WTOs agreement on the textile and clothing industry (ATC) has taken over the mulltifibre agreement. Until January 1, 2005, the sector was fully integrated with the normal GATT rules. In particular, quotas have ended and importing countries are no longer able to distinguish between exporters. The agreement on textiles and clothing no longer exists: it is the only WTO agreement in which self-destruction has been incorporated. Another explanation for China`s low share of cotton pants imports into the United States is the role played by preferential trade agreements in the U.S. textile trade. Although much of the U.S. cotton pants trade was marked by the AMF, more than half of the 149 million cotton pants imported by the United States in 2004 were imported outside the AMF. Most of these imports came from neighbouring countries, as a result of preferential access granted by NAFTA, the Caribbean Basin Initiative (CBI) and the Andean Preferences Act. In Mexico, 31 million export pairs were excluded from a certain quota.

While Guatemala exported 2.7 million quota pairs in 2004, its non-quota exports were even greater thanks to its preferential access. Macro-financial assistance presented a high-level exception to the principles of free trade and GATT. As such, macro-financial assistance should be a temporary measure. However, the agreement was renewed four times and became a political pariah for all parties involved. Although the agreement was conceived as an instrument to regulate the global trade in textiles and clothing, the policy that supported the agreement ultimately terminated the agreement. Under the multifibre agreement, the United States and the European Union (EU) have restricted imports from developing countries to protect their domestic textile industry. As part of the agreement, quotas (limited quantities) were allocated to each signatory country for certain items that could be exported to the United States.

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