Textile Agreement Definition

9. Details of the agreed restraint measure are communicated to the TMB within 60 days of the conclusion of the agreement. The TMB determines whether the agreement is justified under this section. The TMB is made available to the TMB of factual data provided to the President of the TMB in accordance with paragraph 7, as well as any other relevant information provided by the members concerned. The TMB may make recommendations that it deems appropriate for the members concerned. Meanwhile, GATT has been supplanted by the World Trade Organization (WTO) and Uruguay-GATT has decided to transfer surveillance of world textile trade to the WTO. This round of negotiations has also resulted in the abolition of quotas for the world trade in clothing and textiles. The trial ended on 1 January 2005, marking the end of the MfA. The agreement helped to protect industries in developed economies as planned, but also helped boost textile production in some countries where quotas did allow them access to access they did not previously have. The agreement was concluded for the first time under the General Agreement on Tariffs and Trade (GATT). Origins recognized both (1) the threat to developed markets of imports of cheap clothing and textiles in terms of market disruptions and the impact on their own producers and (2) the importance of these exports to developing countries for their own economic development and as a means of diversifying export earnings.b) the application of the fair and fair trade conditions policy for textiles and clothing in sectors such as dumping and anti-dumping practices and anti-dumping procedures, ensuring subsidies and countervailing measures, as well as the protection of intellectual property rights; and 11.

In extremely unusual and critical circumstances, where a delay would result in damages that are difficult to repair, action can be taken on an interim basis in accordance with paragraph 10, provided that the request for consultation and notification to the TMB are made within a maximum of five working days of the measure being taken. If the consultation does not reach an agreement, the TMB informs the TMB at the end of the consultations and no later than sixty days after the implementation date of the action. The TMB immediately reviews the issue and makes appropriate recommendations to the members concerned within 30 days.

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