Effect of The Agreement On Textiles and Clothing
From 1995-2005 the WTO Agreement on Textiles and Clothing (ATC) was in effect, wherein more industrialized countries consented to export fewer textiles while less industrialized countries enjoyed increased quotas for exporting their textiles. Throughout the 10 year agreement, Bangladesh’s economy benefited from quota-free access to European markets and desirable quotas for the American and Canadian markets.
| export market | USA (textile) | USA (clothing) | EU (textile) | EU (clothing) |
|---|---|---|---|---|
| market share in 1995 | <3% | 4% | <3% | 3% |
| market share in 2004 | 3% | 2% | 3% | 4% |
As the above table shows, the market shares for Bangladeshi textiles in the USA and both textiles and clothing in the European Union have changed during the time period of the ATC. It is uncertain whether these favorable export markets will remain since the expiration of the ATC in 2005. Textile exports from Bangladesh to the United States did increase by 10% in 2009. Currently, the textile mills provide 70% of national exports. This proportion is even higher in Bangladesh. In Bangladesh, the number of employed workers in the textile industry increased by 400 000 in 1990 to 2 million in 2004, and the number of enterprises – from 800 to 4000. Nine out of ten people employed in the industry – are women. In general, the state of the textile industry depends on well-being of 10-12 million people in Bangladesh. By IMF estimates, as a result of the abolition of quota exports of Bangladesh will be reduced by 25%.
Read more about this topic: Bangladesh Textile Industry
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