Talks are at present in progress in Geneva among 51 industrialised and developing countries on a renewal of the Multi-Fibre Arrangement (MFA) which expires at the end of 1981. The preliminaries of the negotiations have already revealed the existence of massive conflicts of interest not only between the industrialised countries on the one hand and the developing countries on the other but also within the two groups. The talks are moreover overshadowed by threats from individual industrialised countries to resort to unilateral protectionist measures unless a result satisfactory to them is achieved. This situation is the more explosive as the outcome of the negotiations is regarded worldwide as a “landmark for future trade relations between developing countries and industrialised countries”. What is it all about?