Globalization Trade Agreements

Multilateral Agreements, Customs Unions, Free Trade Agreements and Partial Preferential Agreements

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Abstract

All through the world, globalization has taken place rather rapidly in the aftermath of World

War 2. (Urata, 2002) Brought about by the increasing economic awareness and flexibility,

various trade agreements have been signed by different countries to increase the level of

productivity and exploit the various resources available in other countries.

MULTILATERAL TRADE AGREEMENT:

With the help of new and fast developing technologies, several countries are enhancing the

quality of textiles and other cotton related products. (FAO, 2004).The agreement on textiles

and clothing, lays down several provisions which include; that all members consent to the

procurement laid out in Article 2, Section 18 as well as the 6(b) of the Article 6 in a way that

enables small suppliers and new entrants in the sector to procure and access resources

available. (SICE (a), 2015) Moreover, existing members will be obliged to safeguard the

opinion of the other members “who have not acknowledged the Protocols augmenting the

Arrangement Regarding International Trade in Textile” (SICE (a), 2015). Also included is

the member’s consent to the provisions of this agreement that the specific interests of the

cotton manufacturing or exporting members ought to, in counsel with them, be reflected.

(SICE (a), 2015)