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Korea:Govt extends financial assistance to wade
free trade era crisis

2004-12-31


Coming five years will see the South Korean government invest 32.8 billion won (US$31.5 million) for the development of high-value-added textile products even as the 30-year-old textile quota system ends next year.

The Multi Fibre Agreement, which limits the amount of clothing that can be exported by a country to developed nations, will end on Friday following a decision by the World Trade Organization.
 
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