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A voluntary export restraint (VER) or voluntary export restriction is a measure by which the government or an industry in the importing country arranges with the government or the competing industry in the exporting country for a restriction on the volume of the latter's exports of one or more products.
Export restrictions, or a restriction on exportation, are limitations on the quantity of goods exported to a specific country or countries by a Government. Export restrictions could be aimed at achieving diverse policy objectives such as environmental protection, economic welfare, social wellbeing, conversion of natural resources, and controlling inflationary pressures.
Abolition of quota restrictions created vast opportunities for export expansion from developing countries, especially China, India, and Pakistan, which were the most likely to benefit. [ 1 ] [ 9 ] [ 10 ] Given the scale and competitive nature of China's manufacturing sector, numerous studies forecasted that China, and to a lesser extent India ...
Thus, the agreement on "voluntary" export restraints is imposed by the exporter under the threat of sanctions to limit the export of certain goods to the importing country. Similarly, the establishment of minimum import prices should be strictly observed by the exporting firms in contracts with the importers of the country that has set such prices.
A person cannot, without a license or exception, export or re-export foreign-made commodities, software, or technology that incorporates controlled US-origin commodities, software, or technology if the items require a license and incorporate or are combined with more than a minimal amount of controlled US content, as defined in Title 15 of the ...
Pages for logged out editors learn more. Contributions; Talk; Voluntary export restraints
An orderly marketing arrangement is a non-legal treaty agreed upon by the national government stating that a sovereign state must refrain from exporting goods to a targeted negotiating sovereign state. These agreements relate directly to voluntary export restraints, safeguard and escape clause policies. Orderly marketing arrangements are ...
Technical barriers to trade (TBTs), a category of nontariff barriers to trade, are the widely divergent measures that countries use to regulate markets, protect their consumers, or preserve their natural resources (among other objectives), but they also can be used (or perceived by foreign countries as being used) to discriminate against imports in order to protect domestic industries.