Multiple choice

Under the new GATT agreements, textile trade related to Multi-Fibre Arrangement (MFA) has to be abolished within

  1. 5 years

  2. 10 years

  3. 15 years

  4. 20 years
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the new GATT (General Agreement on Tariffs and Trade) agreements, specifically the Uruguay Round, the Multi-Fibre Arrangement (MFA) which governed trade in textiles and clothing was to be phased out over a 10-year period. This transition was completed by 2005, ending the quota system in textile trade.

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