1945

Foreword

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The textile and clothing (T&C) sector faces tremendous future challenges as the legal framework that has governed imports from developing countries for the past four decades prepares for monumental change. In the past, developing countries were limited in their export efforts by quantitative restrictions determined by stringent bilaterally negotiated quotas stipulated in binding agreements. From 2005 onwards, imports from World Trade Organization (WTO) member countries will no longer be restricted by quotas. Quantitative limits on T&C exports from developing countries will be abolished and trade will be governed by General Agreement on Tariffs and Trade (GATT)/WTO rules. Although tariffs will still be in place, the liberalization of the T&C sector by means of quota abolition is a decisive step towards free trade. But just what does the liberalization of the T&C sector mean to the market and its players?

Related Subject(s): International Trade and Finance
Sustainable Development Goals:
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