Abstract
AbstractThis chapter explores and analyses the changes and challenges faced by the apparel industry of Bangladesh following the abolition of import quotas under the Multi-fibre Arrangement (MFA). Being the most important export industry of Bangladesh, changes related to the apparel industry affect the economy as a whole. This chapter applies the global computable general equilibrium model and data of the Global Trade Analysis Project (GTAP). We find that abolition of MFA import quotas has had negative consequences for the Bangladeshi economy. Depending on various scenarios, the country's apparel exports decreased by 9.6% to 15.1%, while production of apparel decreased by 8.9% to 13.9%. There are also negative consequences for the rural income and poverty levels.
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