Home / Knowledge / News / Apparel/Garments / AAFA President & CEO criticizes collapse of Key Trade Deal
AAFA President & CEO criticizes collapse of Key Trade Deal
04
Aug '14
American Apparel & Footwear Association President & CEO Juanita D. Duggan strongly criticized the apparent collapse of a multilateral trade agreement in Geneva yesterday. The 160 member World Trade Organization (WTO) was unable to move forward with a landmark Trade Facilitation Agreement (TFA), when India and several other WTO member countries blocked action to implement the deal.

Reached at a Ministerial meeting in Bali, Indonesia last December, the TFA would have reduced trade barriers and eliminated border transaction costs that hinder many routine international trade flows. A recent study by the World Economic Forum estimated that, when fully implemented, the TFA would stimulate the world economy by one trillion dollars.

"Not only does failure in Geneva dramatically damage the WTO," noted Duggan, "but it also removes one trillion dollars from the world economy, including the same countries that blocked the landmark deal. Trade ministers from around the world should save the TFA talks immediately."

Apparel and footwear are some of the most heavily traded consumer goods on the planet. The clothing and shoe industry require sophisticated global supply chains so that today's fashions make their way to consumers all over the world. Reducing barriers helps keep fashion affordable.

AAFA

Must ReadView All

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search