Voluntary Restraint Agreement

Informal bilateral or multilateral understandings in which exporters
voluntarily limit exports of certain products to a particular country
destination in order to avoid economic dislocation in the importing country
and the imposition of mandatory import restrictions. These arrangements do
not involve an obligation on the part of the importing country to provide
"compensation" to the exporting country, as would be the case if the
importing country unilaterally imposed equivalent restraints on imports.