Cotton Textiles

Short-Term Arrangement Regarding International Trade in Cotton Textiles in Global Commerce Policy

In this regard, short-term arrangement regarding international trade in cotton textiles is: an arrangement under the GATT between large textile exporters and importers to manage trade in these products through selective quantitative restrictions. The entries on trade policy are here. It entered into force in 1961 for one year and was replaced in 1962 by the Long-Term Arrangement Regarding International Trade in Cotton Textiles which in turn was superseded in 1973 by the Multi-Fibre Arrangement. The entries on trade policy are here. All of these arrangements were a derogation from Article XI of the GATT which requires the elimination of quantitative restrictions. See also Agreement on Textiles and Clothing which contains a timetable for bringing the textiles trade again under the normal rules of the WTO.[1]

Short-Term Arrangement Regarding International Trade in Cotton Textilesin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Short-Term Arrangement Regarding International Trade in Cotton Textiles” entry (OAS)

See Also

Long-Term Arrangement Regarding International Trade in Cotton Textiles in Global Commerce Policy

In this regard, long-term arrangement regarding international trade in cotton textiles is: LTA. The entries on trade policy are here. An arrangement in the GATT for managed trade in cotton textiles and clothing which entered into force in 1962 for five years as the successor the Short-Term Arrangement Regarding International Trade in Textiles. The entries on trade policy are here. It was extended for another three years as part of the Kennedy Round outcome. The entries on trade policy are here. After a further extension in 1970, the arrangement was replaced in 1973 by the Multi-Fibre Arrangement. The membership of the LTA comprised the more important importers and exporters of textiles and clothing. The entries on trade policy are here. It allowed importing members to ask exporting members to restrict their trade. The entries on trade policy are here. Importing members could also impose quantitative restrictions irrespective of the general elimination of such restrictions required by Article XI of the GATT. See also Agreement on Textiles and Clothing which will bring trade in textiles and clothing again under the normal multilateral trade rules.[1]

Long-Term Arrangement Regarding International Trade in Cotton Textilesin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Long-Term Arrangement Regarding International Trade in Cotton Textiles” entry (OAS)

See Also