Textile Quotas Lifted: Race to the Bottom ContinuesPrices on textiles may drop 15% by 2005, and along with them, wages of workers in the poorest countries of the world.
In the 1994 (Uruguay) round of trade negotiations, WTO members agreed to a 10 year plan for phasing out the existing system of import quotas. Quotas, like tariffs, are a mechanism for regulating international trade. The quotas on textiles are to be lifted at the end of this year. DOGSPOT UK