P.M. BRIEFING : Japan to Suggest Textile Easing
Japan will propose that textiles and clothing trade be liberalized by making it subject to regulations of the General Agreement on Tariffs and Trade, an official at the Ministry of International Trade and Industry said today.
About half of the world’s fiber trade is now governed by 114 agreements under the 1986 Multi-Fiber Arrangement.
The Japanese proposal would see MFA abolished in 1991 and textiles and clothing gradually integrated into GATT, with full integration by 1999.
The change would mean pulling down the complex system of tariff walls erected to protect domestic textile clothing industries from low-cost foreign competition.
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