Liberalization of trade as a factor in accelerating the innovation development of economy

Abstract

The article reviews the prerequisites of liberalization of the world trade in textiles and clothing, analyzes the main provisions of the Agreement of the World Trade Organization on Textiles and Clothing. The author considered four stages of integration of the global textile industry into the GATT/WTO multilateral trading system. The article analyzes the main trends that have emerged in the sector of textiles and clothing in the post trade liberalization period. On the example of technical textiles production and sales on the international markets the author examines the structural adjustments in the global textile industry. Due to introduction of innovative technologies for the production of new types and kinds of fabrics the situation on the global technical textiles market changed cardinally.