Multilateral textile agreement cancelled, China and India are the biggest winners
After the global 'Multilateral Textile Agreement' (MFA) is about to withdraw completely, China and India have become the biggest winners. Among them, China's textile and clothing exports increased by 18.4% in the first four months of this year, and India achieved a growth of 28% in the first three months. Pakistan is also one of the biggest beneficiaries. According to data released by the Federal Bureau of Statistics, Pakistan’s textile exports in the first four months of 2005 increased by an average of 22.1% compared with the same period last year. However, the International Labor Organization (ILO) pointed out in the investigation report on the fair promotion of textiles and clothing globalization after the end of the 'Multilateral Textile Agreement' that the implementation of MFA and the cancellation of textile quotas will actually result in a mixed box. The cancellation did not fully consider the labor and trade conditions of many developing countries, and it was a disastrous move for them. As the report points out, in the first three months of 2005, exports of textiles and clothing to the United States under the African Growth and Opportunity Act (AGOA) fell by 25% compared with the same period last year; Kenya’s 39,000 textile workers out of 6,000 were unemployed, and currently half People face the danger of unemployment; the increase in competitiveness of Asian countries will make more Latin American countries lose the international textile market. The impact of the globalization of textiles on employment and the economy cannot be ignored.