Which trade regime set quotas on developing countries' textile and garment exports to developed countries from 1974, until its successor expired on 1 January 2005?
Answer and explanation
Correct answer: D. The Multi-Fibre Arrangement
- Step 1: The MFA governed world trade in textiles and garments from 1974 through 1994 and set quotas on developing countries' exports to developed countries. Answer: The Multi-Fibre Arrangement. Why not the others: The General Agreement on Tariffs and Trade, The North American Free Trade Agreement and The Generalized System of Preferences don't fit.
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