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HEADLINE: EU, U.S. strike online
gambling compensation deal
Body:
According to a press release, the European Union
and the United States have agreed on a compensation package for
the United States' withdrawal of online gambling and betting services
from its World Trade Organization commitments.
The WTO deadline for the two to come to an agreement
was Friday; otherwise the EU could have asked for the matter to
be settled by a WTO arbitration panel.
Instead, a bilateral agreement was signed in Geneva. The agreement
provides EU service suppliers with new trade opportunities in
the following U.S. sectors:
- Postal and courier
- Research and development
- Storage and warehouse
- Testing and analysis services
The European Union will also continue to press for non-discriminatory
treatment in U.S. Internet gambling legislation.
The agreement follows several months of negotiations after the
United States announced its intention to withdraw from its WTO
commitments around online gambling and betting services.
The General Agreement on Trade in Services allows members to
modify or withdraw commitments, but in doing so the nation withdrawing
commitments opens itself up to compensation claims from other
WTO members.
The EU was being pressured by the online gambling industry there
to ask for as much as $100 billion in compensation. The gambling
industry had hoped the EU would push the United States into opening
up its online gambling market rather than settling.
"We're disappointed but not surprised," said Clive
Hawkswood, Remote Gambling Association chief executive, in a Times
Online article. "We're hoping this isn't the last word on
the subject."
Antigua and Barbuda, which initiated the online gambling case
with the WTO, is asking for $3.44 billion annually in compensation.
It is currently waiting for a decision from a WTO arbitration
panel on what it will get in compensation.
Once the United States settles all its compensation claims and
they are certified by the WTO, gambling services will no longer
be covered by the U.S. WTO commitments.
The European Commission, however, doesn't see this as an end
to the issue. It will seek a non-discriminatory policy toward
Internet gambling in the United States.
"While the U.S. is free to decide how to best respond to
legitimate public policy concerns relating to Internet gambling,
discrimination against EU or other foreign companies should be
avoided," said Peter Power, EU spokesman for trade.
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