The most important factor contributing to this change in fortune was phasing out the Multi-Fiber Arrangement (MFA), which was completed in early 2005.
We feared that the ending of the Multi-Fiber Arrangement at the end of 2004 could cost the sector 30,000-40,000 jobs.
The report was referring to the impact of the expiration of the Multi-Fiber Arrangement
, a four-decade-old agreement that regulated the world's exports and imports of textile and apparel products by allowing countries to impose quotas.
With the lifting of Multi-Fiber Arrangement
quotas on apparel and textile imports from other countries Jan.
In 1974, GATT members agreed to expand the reach of this agreement by adopting the Multi-Fiber Arrangement
(MFA), which allowed importing countries to impose quantitative restrictions on imports of wool, synthetic fiber and silk blends and vegetable fiber textiles and apparel products to prevent market disruption.
The range of products subject to restraints expanded from mostly cotton textiles under the early quota arrangements in the 1960s and early 1970s to an ever increasing list of natural and manmade fibers under four iterations of the Multi-Fiber Arrangement (MFA) beginning in 1974.
This multilateral agreement - known as the Arrangement Regarding International Trade in Textiles or more commonly as the Multi-Fiber Arrangement - went into effect in January 1974.
Under the old Multi-Fiber Arrangement
[which lapsed with the advent of the WTO in Jan.
With the support of the United States, the Multi-Fiber Arrangement
will be phased out over 10 years.
US imports of textiles and clothing covered by the former Multi-Fiber Arrangement
(MFA) continued to surge in 2004, rising by 10.
Under the WTO, the Multi-Fiber Arrangement
, a four-decade-old agreement that regulated the world's exports and imports of textile and apparel products by allowing countries to impose quotas, expired Jan.
Under the World Trade Organization, the Multi-Fiber Arrangement
, a four-decade-old agreement that allowed the WTO to impose quotas on the import of textile and apparel products expired Jan.