Agreement on Textiles and Clothing Slideshare
Agreement on Textiles and Clothing (ATC) was an international trade agreement that came into effect in 1995. The agreement aimed to regulate and phase out the multi-fiber arrangement (MFA), which restricted textile and clothing exports from developing countries. The ATC was part of the broader General Agreement on Tariffs and Trade (GATT) and was later incorporated into the World Trade Organization (WTO) after its establishment in 1995.
The ATC was a significant milestone for the textile and clothing industry, as it facilitated the integration of developing countries into the global trading system. The agreement was designed to create a more equitable and predictable trade environment for textiles and clothing by phasing out the MFA over a period of ten years. The MFA was an elaborate system of quotas that restrained textile and clothing exports from developing countries and favored developed countries.
The ATC represented a crucial departure from the protectionist measures that had long dominated the textile and clothing industry. The agreement recognized that the textile and clothing industry was a critical sector for many developing countries, and that trade could be a catalyst for economic growth and poverty reduction. The ATC set out to eliminate the MFA quotas gradually, allowing countries to adjust to the new trading environment and safeguarding the interests of both developed and developing countries.
The ATC had a significant impact on the textile and clothing industry, especially in developing countries. It opened up new market opportunities for these countries, which allowed them to increase their exports and diversify their production. The agreement also fostered competition and innovation in the industry, as countries had to become more efficient and cost-effective to remain competitive.
The ATC was replaced by the Agreement on Textiles and Clothing (ATC) in 2005, which marked the end of the ten-year phase-out period. The ATC had fulfilled its objectives, and many developing countries had emerged as major players in the global textile and clothing industry. Today, the industry remains an essential sector for many developing countries, with textiles and clothing accounting for a significant share of their exports.
Slideshare is an excellent resource for learning more about the ATC and its impact on the textile and clothing industry. Many presentations and articles on the platform provide detailed information on the agreement`s history, objectives, and outcomes. Whether you are a student, researcher, or industry professional, Slideshare is an excellent tool for expanding your knowledge on this critical agreement that transformed the global textile and clothing industry.