Agreement on Textiles and Clothing
Agreement on Textiles and Clothing: a WTO agreement succeeding the Multi-Fibre Arrangement (MFA). It differs from the MFA in that it aims to bring international trade in textiles and clothing again under the normal liberalizing and non-discriminatory WTO trade rules by 1 January 2005. On 1 January 1995 members had to integrate 16% of their 1990 trade in textiles. Another 17% had to be integrated by 1 January 1998, a further 18% by 1 January 2002 and the remainder by 1 January 2005. This means that there is scope for backloading, but some fairly precise conditions for implementation apply. For example, at each stage products have to be chosen from the following four groups: tops and yarns, fabrics, made-up textile products, and clothing. Progress is supervised by the Textiles Monitoring Body, established under the Agreement, which has some dispute settlement functions in respect of the Agreement. The WTO dispute settlement mechanism is also available to members.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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