The agreement that put an end to the MFA quota system,improved access to foreign markets,and liberalized world trade in textiles was the:

Question

Quizplus · Accepted Answer

The GATT Agreement on Textiles and Clothing, also known as the ATC, was the agreement that ended the MFA quota system, improved access to foreign markets, and liberalized world trade in textiles. The Multifiber Arrangement (A) was the precursor to the ATC, signed in 1974 to restrict textile imports. The GATT Trade in Textiles Act of 1947 (B) established a temporary agreement for regulating international trade in textile products. The GATT Trade in Textiles Act of 1994 (D) does not exist, as the GATT was replaced by the World Trade Organization (WTO) in 1995.

The Agreement That Put an End to the MFA Quota