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

Apparel/Garments | On 26th May 2016

PM expects Parliament to pass GST bill this year

Prime Minister Narendra Modi expects Parliament to pass the...

Apparel/Garments | On 26th May 2016

Bangladesh garment exports up 10% in July-April

Continuing the steady growth witnessed over the past few months,...

Textiles | On 26th May 2016

Spun yarn production growth in FY16 slowest in 4 years

India’s cotton yarn production grew by 2 per cent to 4,136 million kg ...

Interviews View All

Nuno Venda
ROQ

What are the key trends and innovations in textile printing? From which...

Pinkesh Jain
Everflow Petrofils Ltd

What are the latest technological innovations in the spinning industry?...

Smita Murarka
Amanté

Which fabrics will be in trend for lingerie in 2017? What aspects are...

Steve Cole
Xerium Technologies

<b><i>Steve Cole of Xerium Technologies discusses the industry. Xerium is...

Mohammad Hassan
Biax Fiberfilm

<b><i>About one in every 20 patients picks up an infection while...

Eric Scholler
Groz-Beckert

<b><i>The Indian market has huge potential in technical textiles, and by...

Bani Batra

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

"There are a lot of people wearing western clothes in India as well. But...

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search