The Multi Fibre Agreement, also known as MFA, was an international trade agreement that had a significant impact on the global textile and clothing industry. The agreement was signed in 1974 and was in effect until 2005. It was designed to restrict exports of textiles and clothing from developing countries to developed countries.
The MFA was based on the principle of quantitative restrictions, which meant that developing countries were only allowed to export a certain amount of textiles and clothing to developed countries. The aim of this restriction was to protect the textile and clothing industries of developed countries from the competition of low-cost imports from developing countries.
The MFA was a controversial agreement, with many developing countries arguing that it was unfair and prevented them from developing their own textile and clothing industries. However, the agreement also had some positive effects, as it allowed some developing countries to gain access to the markets of developed countries and to develop their own textile and clothing industries.
The MFA was replaced in 2005 by the Agreement on Textiles and Clothing (ATC), which removed the quantitative restrictions on textile and clothing exports from developing countries. This has led to an increase in competition in the global textile and clothing industry, as developing countries are now able to export unlimited quantities of textiles and clothing to developed countries.
In Hindi, the Multi Fibre Agreement is known as बहु फाइबर समझौता. This agreement was a major milestone in the history of international trade and had a significant impact on the global textile and clothing industry. While it was controversial, it paved the way for the development of the textile and clothing industries in many developing countries and ultimately led to increased competition and innovation in the industry.