Multi-Fibre Arrangement
Multi-Fibre Arrangement: MFA, formally Agreement Regarding International Trade in Textiles. This is an agreement between textile- producing and consuming countries concluded in 1973 and renegotiated periodically afterwards to manage trade in textile products. It seeks to contain what was considered to be "serious damage" to developed country producers by the increasingly competitive developing country textile industries through the concept of market disruption. The MFA was aimed at defined target countries and thus violated the GATT non- discrimination provisions. Apart from raising prices in affected consumer countries, the MFA also had the effect of forcing developing countries into higher-value lines and in this way undermining further the competitiveness of developed countries. The MFA was replaced by the WTO Agreement on Textiles and Clothing under which restrictions are to be phased out over 10 years starting on 1 January 1995. See also Short-Term Arrangement Regarding International Trade in Cotton Textiles and Long-Term Arrangement Regarding International Trade in Cotton Textiles.
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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