首页 > Term: voluntary export restraint arrangement (VER)
voluntary export restraint arrangement (VER)
An arrangement, usually a negotiated bilateral agreement, between countries in which suppliers or their government in an exporting country agree to limit to predetermined levels their exports of a particular product to an importing country. Under the Uruguay Round Agreement on Agriculture, VERs are to be converted into fixed tariffs or tariff-rate quotas.
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- AjayOwor
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