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The figures above do not include the Multi-Fibre Arrangement (AMF), which, along with its predecessor, the Long-Term Arrangement for Cotton Textiles (1962-72), was the veRS model. Macro-financial assistance is a negotiated and multilateral abandonment of the GATT, based on the principle that industrialized countries, which are the main importers of textiles, need special protection from « market disruptions » by cheaper, normally development-friendly exports. Under its aegis, a large number of bilateral export restriction agreements have been concluded, covering about 50% of the textile and clothing trade. In addition, as the table shows, there are 11 known VERs in this sector that are outside the scope of the AMF. As a result, a significant portion of the world`s textile and clothing trade is managed and is therefore not subject to the normal forces of international trade. A VER is a measure by which the government or industry of the importing country, together with the government or the competing industry of the exporting country, concludes a limit on the volume of exports of one or more of the importing country`s products. Under this definition, the worm is a general reference for all bilaterally agreed measures to limit exports. However, in the strict sense, a VER is a unilateral and managed measure by the exporting country, which is « voluntary » since it has the formal right to eliminate or modify it. Typically, a VER is created under pressure from an importing country; it can then be considered « voluntary » only in the sense that the exporting country may prefer other barriers to trade that the importing country could use.

Moreover, in a non-competitive industry, particularly oligopolistic, exporting companies could find to their advantage the negotiation of a VER that would then be truly « voluntary ». A voluntary export restriction (VT) or voluntary export restriction is a government-imposed limit on the quantity of a class of products that can be exported to a particular country for a period of time. They are sometimes referred to as « export visas. » [1] Quantitative export restrictions appear to have first appeared in 1935, when Japan was forced to restrict its textile exports to the United States. However, they have only been widespread in the last ten years. The attached table lists nearly 100 known large ERSs. The actual figure may well be higher, as it is reported that there are various undisclosed agreements between industry and companies. Of the known number of VERs, 55 limit exports to the European Community or its Member States, and 32 limit exports to the United States.