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US and EU Sign Online Gambling Compromise Deal |
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Tuesday, 18 December 2007 |
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The United States and the European Union avoided the need for the WTO to step in and settle a lengthy dispute at the last minute, after a compromise agreement about online gambling was signed in Geneva on Friday. The EU was seeking over $100-billion in compensation claims after the United States withdrew from its WTO regional treaty commitments, essentially blocking foreign suppliers from operating in certain sectors of its local online gambling market. The compromise agreement will see the United States making several trade concessions to the European Union, such as allowing EU traders into specific sectors of its market. EU operators will be allowed to enter the research and development sector and the warehousing sector, among others. The deal was a blow to the European online gambling community, which had been urging the EU not to compromise on the amount demanded, unless the US changed its gambling laws. The EU has indicated that it will still pursue in reaching a just solution to allow foreign operators within the exclusive US market.
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