About quota phasing-out
The quota system in international trade will come to an end by 2005. It's a very sensitive issue for the LDCs. To them , it's like adding insult to injury, after the WTO's Cancun Summit. If quotas are removed so early, global textile and garments trade will be monopolised by a few countries such as China. Well, we need a good relation with China, but not in this perspective. The consequence will be massive job disruption and business bankruptcies in dozens of countries, including Bangladesh, which are dependent upon textile and garment exports.
The rich countries never think about the pathetic condition of the LDCs, then why is the WTO needed?
For all latest news, follow The Daily Star's Google News channel.