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The Multi-fibre Arrangement (MFA) (Note 1) in global trade in apparels and textiles was phased out in December 2004. South Asian countries major concern was to prevent large-scale job losses due to liberalization and globalization. It was apprehended that the RMG sector of smaller countries especially Bangladesh will be adversely affected by losing a huge number of jobs, will face high competition from its low-cost competitor countries and will experience negative impact due to its highdoi:10.5539/ijbm.v6n11p275 fatcat:6p5ilear5zaatlfld7blx754pa