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Antigua Takes Compensation Bid To WTO Friday
Antigua and Barbuda will meet with the World Trade Organisation (WTO) today (Friday), in a bid to outline its reasons for the $3.4 billion in sanctions it wishes to impose on the US, after it accused the nation of crippling the countries online gambling industry with its restrictive policies.
After a drawn out debate between the US and the Caribbean island the WTO agreed that the US?s online gambling laws, which forbid foreign competition for bets on Internet gambling on horse racing while allowing domestic interstate bets, are inconsistent with WTO trade policies.
Friday's meeting will address the initial claim of $3.4 billion, several times the GDP of the country, but total compensation is expected to spiral up to $7billion.
"The $3.4 billion is just what we're entitled to by virtue of them not having complied with the decision.
It's a massive number but, after talking to the economists and going through everything, it is a very realistic number," said Mark Mendel, Antigua and Barbuda's attorney at the WTO, in an article from the Antigua Sun newspaper.
source: OnlineCasinoNews |
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