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Bangladesh and the MultiFibre Agreement


Code : ITF0005

Year :

Industry : Textails

Region : :Banladesh USA

Teaching Note: Available

Structured Assignment : Available

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THEGARMENT INDUSTRY OF BANGLADESH With a modest beginning in the late 1970s, the RMG sector of Bangladesh grew rapidly. Within a short period of time (1975-2003), it attained prominence in terms of its contribution toBangladesh’sGrossDomestic Product (GDP), foreign exchange earnings and employment.The industry flourished because of its cheap labour market and the favoured international textiles and clothing regime, under the MFA...

BANGLADESH AND THE MULTIFIBRE ARRANGEMENT The Short TermCottonTextileArrangementwas the first textile agreement. Itwas negotiated in 1961 under GATT, at the request of the US for a period of one year only. It was replaced in October 1962 by the Long TermArrangement Regarding International Trade in Cotton Textiles (LTA), which controlled the cotton textile exports for the next 10 years...

EFFECT OF PHASING OUT OF MFA With the phasing out of MFA, the highly regulated textile and apparel industry would become a free trade. The Bangladesh’s RMG sector would lose its previously guaranteed access to EU, Canadian and US markets, which it had earlier enjoyed in the form of quota allocations. It would be forced to compete with established suppliers in countries with much cheaper labour and backward linkages such as India, Pakistan and China...

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BANGLADESH BEYOND 2004 Bangladeshwould be able to hold itsmarket in theUS and EU after 2004, if itwas able to get preferences under the GSP program. On July 1st 2003, the US President, Bush signed a proclamation, expanding the product coverage of the United States GSP program.Acountry can lose GSP benefits when it fails to ensure internationally recognised worker rights...

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