Common Contracts
1 similar Agreement on Textiles and Clothing contracts
AGREEMENT ON TEXTILES AND CLOTHING: ANOTHER WTO FAILURE?Agreement on Textiles and Clothing • March 27th, 2003
The historical GATT-Uruguay Round Agreement was signed in April 1994 after years of difficult negotiations. Although the Textiles and Clothing sector was not included, a separate agreement, the Agreement on Textile and Clothings (ATC) was also signed with the specific purpose to dismantle the complex quota system in place and gradually incorporate the sector to the rules and disciplines of GATT-UR in a period of ten years. At the verge of the established deadline, the liberalization results achieved seem disappointing for most textile exporting countries. Implications of these results are affecting the new round of WTO negotiations. What went wrong? Is there anyone to blame? We analyze the ATC rules and discuss the roots of the mis- understanding and the expectations for 2005.
