Export quotas
Export quotas: restrictions or ceilings imposed on the total value or volume of certain exports. They are designed to protect domestic producers and consumers from temporary shortages of these products or to improve the prices of specific products on world markets by shortening their supply. The latter is only possible where a country, or a group of countries, is the dominant exporter of a product. International commodity agreements with economic provisions can underpin their aim of price stabilization through export quotas, sometimes together with a buffer stock. Article XX(h) (General Exceptions) of the GATT specifically allows members to adopt measures in support of obligations they have accepted under any intergovernmental commodity agreements conforming to the 1947 ECOSOC principles. This is also reflected Chapter VI of the Havana Charter. GATT Article XX(i) permits members to maintain "restrictions on exports of domestic materials necessary to ensure essential quantities of such materials to a domestic processing industry during periods when the domestic price of such materials is held below the world price as part of a governmental stabilization plan", but such restrictions must not be used to increase exports of the commodity concerned or to give it greater protection.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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