HECOL441 Lecture Notes - Lecture 8: General Agreement On Tariffs And Trade, World Trade Organization, Multilateralism

• School: University of Alberta
• Department: Human Ecology
• Course: HECOL441
• Professor: Lori Moran

Document Summary

T&c trade, similar to other goods, was governed under the gatt 1947 framework - no sector speci c multilateral trade agreement for t&c. Gatt was the forerunner to wto - major aim was non-discrimination in trade and primarily a. Gatt was forerunner of wto and was result of us efforts to adopt a multilateral as opposed to bilateral approach to solving trade issues ef ciency of a global broader approach of multinational agreement rather than multiple bilateral agreements. Mfa in 1974, more than 40 countries entered into the mfa, which was designed to regulate trade in textiles and apparel the mfa permitted countries to negotiate bilateral agreements or act unilaterally to avoid. Quotas lead to fragmentation these trade restrictions (quotas) led to fragmentation of the apparel supply chain when countries reached their maximum levels under the quota system, the search was on to. 1995 - major policy changes occurs caused by push for trade liberalization.