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Wednesday, October 24, 2007

WTO Online Gambling Negotiations Extended

WTO Online Gambling Negotiations Extended

The European Union and other US trading partners have agreed to extend the deadline by which to agree a compensation package in the WTO dispute of the United State’s restrictions on Internet gambling.

The negotiations were scheduled to be completed yesterday.

According to Reuters, a spokeswoman for the U.S. Trade Representative's office told the news agency, "In order to provide all parties with sufficient time to reach a successful resolution, the United States and the claimants have jointly agreed that these negotiations should be extended until December 14. Each negotiation is proceeding at its own pace, and some are quite advanced. However, we have agreed to extend the negotiation period for all claimants."

It is still unclear what value will be placed on the compensation package, however US official have stated that the suggested figure of $100 billion is greatly exaggerated.

Source: GIG

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