Post Multi Fiber Agreement Era and Bangladesh RMG Sector

Our country is about to face a very significant change in terms of export earning. The phasing out of Multi Fiber Agreement (MFA) and the GSP facilities are going to be the sole agent for bringing about such significant change. As the MFA is soon going to be phased out as agreed upon by the WTO signatories, Bangladesh is going to lose its US quota and is going to face a global challenge in case of export earning especially in the Ready Made Garment (RMG) sector which has been contributing almost 80% of the total export earning to our national income. This golden sector is going to be affected seriously by the phasing out of MFA from the year 2005. It has now become a much talked about issue. This journal identities certain key global challenges which our RMG sector will undoubtedly be facing as the MFA phases out by the end of this year. This journal also suggests certain tentative but urging solutions to meet the upcoming challenges. However, this journal does not aim to prioritize the solutions in anyway. Also, since there is no one solution to any one problem rather a combination of approaches to be taken to overcome the upcoming challenges, this journal is expected to impart a general platform for implementing the tentative solutions.