The number of signatories to the agreement has changed slightly over time, but has generally exceeded 40, with the EC considered one of the signatories. Trade between these countries dominated the world trade in clothing and textiles, with a share of up to 80%. Meanwhile, GATT has been supplanted by the World Trade Organization (WTO) and Uruguay-GATT has decided to transfer surveillance of world textile trade to the WTO. This round of negotiations has also resulted in the abolition of quotas for the world trade in clothing and textiles. The trial ended on 1 January 2005, marking the end of the MfA. The agreement helped to protect industries in developed economies as planned, but also helped boost textile production in some countries where quotas did allow them access to access they did not previously have. A textile watchdog (TMB) oversaw the implementation of the agreements. It consisted of a president and ten members who acted in their personal function. It followed the measures taken under the agreement to ensure their coherence and reported to the Goods Council, which reviewed the operation of the agreement before each new stage of the integration process. The textile watchdog also looked into disputes under the textile and clothing agreement. If left unresolved, disputes could be referred to the regular WTOs dispute resolution body. When the textile and clothing agreement expired on January 1, 2005, the textile monitoring office no longer existed either. The Multifibre Agreement (MFA) was an international trade agreement on textiles and clothing that was in force from 1974 to 2004.
It imposed quotas on the volume of clothing and textile exports from developing countries to industrialized countries. In any quota-setting system for individual exporting countries, exporters could attempt to circumvent quotas by shipping products through third countries or making false statements about the country of origin of the products. The agreement contained provisions to deal with these cases. At that time, developing countries were still often heavily dependent on exports of primary raw materials. The agreement attempted to mitigate this potential conflict in order to ensure continued cooperation in the field of international trade. In this context, quotas were seen as an orderly way to manage the world trade in clothing and textiles in the short term in order to avoid market disruptions. The ultimate goal remained the removal of barriers and trade liberalization, with developing countries expected to play an increasing role in trade over time. Macro-financial assistance was introduced in 1974 as a short-term measure to enable industrialized countries to adapt to imports from developing countries. Developing countries and countries that do not have a welfare state have a comparative advantage in textile production because they are labour-intensive and their poor social security systems allow them low labour costs.  According to a study by the World Bank and the International Monetary Fund (IMF), the system has cost developing countries 27 million jobs and $40 billion in lost exports per year.  Developing countries have opposed measures such as a social clause in customs agreements to make them conditional on improving working conditions.