Antigua and Barbuda are seeking annual trade sanction in excess of $3 Billion to cover the nation's losses in the internet gambling community. Antigua is one of several countries that depend largely on revenues from internet gambling companies for their overall economy.
CariCom was created in 1973 for the express purpose of giving the smaller member nations more weight and support in situations like this, where one country by itself may not have enough impact to change the practices of a larger country. During the 28th Heads of Government conference in Barbados this week, the organization had added its voice to those of Antigua and Barbuda in calling for the US to comply with recent rulings by the World Trade Organization (WTO).
The WTO has, in multiple rulings, stated that the US is out of compliance with agreements it signed as a member of the WTO, and must reverse the UIGEA to comply with international trade agreements.
"This matter has been fully ventilated at the conference and the position of CariCom is that Antigua and Barbuda should be fully supported by CariCom in this matter because it should have serious implications for the region going forward as we seek to develop the financial services sector in the region," said Baldwin Spencer, Prime Minister of Antigua.