Voluntary Restraint Agreement
Voluntary Restraint Agreement
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Voluntary Restraint Agreement (VRA) and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Voluntary Restraint Agreement (VRA): An arrangement by which an exporting country takes steps --usually by means of export quotas --to restrain exports that could cause economic dislocation in a key trading partner. VRAs are generally undertaken to forestall action by the importing country against imports that may injure or threaten the position of domestic firms.
A VRA is less contractual in nature than an orderly marketing agreement, but with similar economic effects. Under a VRA the importing country does not apply restrictions to enforce the agreement (as under an OMA), nor is compensation involved as may be the case if the importer unilaterally raises tariffs. VRAs are not covered by GA n rules (see grey-area measures).
Hierarchical Display of Voluntary restraint agreement
Trade > International trade > Trade relations
Business And Competition > Competition > Restrictive trade practice > Vertical agreement > Marketing restriction
Trade > Trade > Trading operation > Export
Business And Competition > Competition > Restriction on competition > Voluntary restraint
Voluntary restraint agreement
Concept of Voluntary restraint agreement
See the dictionary definition of Voluntary restraint agreement.
Characteristics of Voluntary restraint agreement
Resources
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Translation of Voluntary restraint agreement
Spanish: Acuerdo de limitación
French: Accord de limitation
German: Begrenzungsabkommen
Italian: Accordo di limitazione
Portuguese: Acordo de limitação
Thesaurus of Voluntary restraint agreement
Trade > International trade > Trade relations > Voluntary restraint agreement
Business And Competition > Competition > Restrictive trade practice > Vertical agreement > Marketing restriction > Voluntary restraint agreement
Trade > Trade > Trading operation > Export > Voluntary restraint agreement
Business And Competition > Competition > Restriction on competition > Voluntary restraint > Voluntary restraint agreement
See Also
Including similar content viewed by others, in case you missed it:
Agreement on voluntary restraint
Auto-limitation agreement