Multifibre Agreement - Case Study Example

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Multifibre Agreement

The nineteenth century saw the beginning of the formation of unions, for the purpose of protecting the rights of the citizens. From then on, as each country gained freedom from colonial rule, it started to go in for organized employment and trade activities. There are unions and associations for employment, for domestic trade activities and international trade activities. To protect the rights of its people, some countries have agreed and signed pacts on the quantity of each commodity that can be imported or exported into a country.
Before we embark on a detailed analysis of the Multifibre agreement and its impact on international trade, let us have a look into the actions and agreements that were made before the Multifibre agreement came into force.
Source: Based on D. Spinanger, "Faking Liberalization and Finagling Protectionism: The ATC at Its Best", Background Paper for the WTO 2000 Negotiations: Mediterranean Interests and Perspectives, Cairo.
The textile and clothing industry is one which has constantly increasing trade flows all over the world. Globalization and liberalization had exposed the European Union industry to increased competition from a large number of low-labor cost countries (especially from Asia).This sector constitutes one of the most important sources of income and employment for various countries in Asia, esp. ...
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Summary

All countries in the world are dependent on trade and import and export of goods to fulfill the needs of their citizens. While one country might have a plentiful of one kind of resources, another country might be facing a shortage of the same, leading to the need for importing that particular good or service…
Author : simwatsica

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