[Home Hearing, 114 Congress] [From the U - What do you need to finance a car.S. Federal Government Publishing Office] THE STRATEGIC SIGNIFICANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOUSE OF REPRESENTATIVES ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION JULY 14, 2016 Serial No. 114-189 Printed for the usage of the Committee on Foreign Affairs [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] Available by means of the World Wide Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. FEDERAL GOVERNMENT PUBLISHING OFFICE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Files, U.S. Federal Government Publishing Office Web: book shop.
ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. http://milobvoy278.huicopper.com/all-about-what-is-the-difference-between-accounting-and-finance ENGEL, New York ILEANA ROS-LEHTINEN, Florida BRAD SHERMAN, California DANA ROHRABACHER, California GREGORY W. MEEKS, New York City STEVE CHABOT, Ohio ALBIO SIRES, New Jersey JOE WILSON, South Carolina GERALD E. CONNOLLY, Virginia MICHAEL T. Mc, CAUL, Texas THEODORE E. DEUTCH, Florida TED POE, Texas BRIAN HIGGINS, New York MATT SALMON, Arizona KAREN BASS, California DARRELL E. ISSA, California WILLIAM KEATING, Massachusetts TOM MARINO, Pennsylvania DAVID CICILLINE, Rhode Island JEFF DUNCAN, South Carolina ALAN GRAYSON, Florida MO BROOKS, Alabama AMI BERA, California PAUL COOK, California ALAN S. LOWENTHAL, California RANDY K.
YOHO, Florida ROBIN L. KELLY, Illinois CURT CLAWSON, Florida BRENDAN F. BOYLE, Pennsylvania SCOTT Des, JARLAIS, Tennessee REID J. What was the reconstruction finance corporation. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York DANIEL DONOVAN, New York Amy Porter, Chief of Personnel Thomas Sheehy, Staff Director Jason Steinbaum, Democratic Personnel Director ------ Subcommittee on the Western Hemisphere JEFF DUNCAN, South Carolina, Chairman CHRISTOPHER H. SMITH, New Jersey ALBIO SIRES, New Jersey ILEANA ROS-LEHTINEN, Florida JOAQUIN CASTRO, Texas MICHAEL T. Mc, CAUL, Texas ROBIN L. KELLY, Illinois MATT SALMON, Arizona GREGORY W. MEEKS, New York City RON De, SANTIS, Florida ALAN GRAYSON, Florida TED S.
LOWENTHAL, California DANIEL DONOVAN, New York City C O N T E N T S ---------- Page WITNESSES Mr. Eric Farnsworth, vice president, Council of the Americas and Americas Society ... ... ... ... ... ... ... ...... 4 Ms. Sally Yearwood, executive director, Caribbean-Central American Action ... ... ... ... ... ... ... ... ... ... 10 His Excellency Richard Bernal, pro-vice chancellor for global affairs, University of the West Indies in Jamaica ... ... ... 24 LETTERS, STATEMENTS, AND SO ON, SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Prepared declaration ... ... ... ...... 7 Ms. Sally Yearwood: Prepared statement ... ... ... ...... 13 His Excellency Richard Bernal: Prepared declaration ... ...... 26 APPENDIX Hearing notification ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE STRATEGIC VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 House of Representatives, Subcommittee on the Western Hemisphere, Committee on Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )administering. Mr. Duncan. Okay. A quorum existing, the subcommittee will come to order.
I would now like to recognize myself for an opening declaration. Thank you, guys, for your perseverance. Today, we require to highlight a really essential area in our hemisphere that sadly typically gets overlooked. Much of our Caribbean pals have actually repeatedly urged the United States to pay more attention to the Caribbean, and I want you to understand that I have heard you. I would likewise like to thank Ranking Member Sires in specific for timeshare vacation his leadership in working to prioritize this subcommittee's concentrate on the Caribbean. However, while these are definitely important strengths for the area, the Caribbean has far more to use which U.S. companies, universities, and local.
communities ought to consider when preparing future financial investment, academic research study, or where to develop more powerful economic ties. One of the main tools of U.S. engagement with CARICOM nations is the Caribbean Basin Effort, or CBI, which was produced in 1983. Can we turn that sound down a bit, sir? Can we turn that down just a bit? Okay. Which was created in 1983 and has actually consequently expanded to supply 17 countries and dependent territories with duty-free access to U.S. This engagement has resulted in a 44-percent boost in U.S. exports to the Caribbean over the previous 10 years, and last year the total trade relationship in between the U.S.
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and the Caribbean was $33. 4 billion. I believe it is crucial to work with our next-door neighbors to equally promote financial development through trade liberalization, respect for the rule of law, and adherence to free enterprise principles in order to achieve prosperity that is sustainable for the area. Which of these is the best description of personal finance. In addition, I am a firm fan of much deeper U.S.-Caribbean energy relations. To me it is a great deal. U.S. has an abundance of oil, natural gas, and technical proficiency, and the Caribbean has a few of the greatest energy costs in the world and requires to decrease these costs by developing facilities for delivering energy, integrating energy markets to attract financial investment and financing, and develop pipelines and liquified natural gas structures. After all, the United States is the biggest energy producer in the Western Hemisphere; collectively with Mexico and Canada, The United States and Canada represents 71 percent of the hemisphere.
's petroleum and 28 percent of gas reserves in the hemisphere. Likewise, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have considerable oil and gas production. In my view, freedom-loving, market-friendly, energy-producing nations in this hemisphere should be working more closely together to pursue hemisphere-acquired, energy self-reliance and that indicates helping non-energy producing countries consisting of the Caribbean next-door neighbors in reaching this objective. Eventually, if the Western Hemisphere were more energy independent it would go a long way to transforming our societies and security and independence and our financial growth. and CARICOM. Nevertheless, I stay worried about the growing security challenges in the region from global criminal companies that look for to utilize the area to ship drugs, migrants, and Visit this website contraband to United States coasts. The Caribbean Basin.
Security Initiative is another tool the United States has used since 2010 to attend to local security problems, and offered the Caribbean's tactical area to U.S. homeland, we require to keep thinking about ways to enhance CBSI and more effectively comply with the regional partners to control borders, block criminal groups 'ability to make use of liberal environments to their advantage. I am likewise worried about the people from the Caribbean that have signed up with Islamic extremist organizations. Southern Command, General Kelly, affirmed before Congress that near 100 people had left the Caribbean to go fight in Syria. At a subsequent briefing, he particularly called Jamaica, Siriname, and Trinidad and Tobago as having had people leave for the battleground. These dangers to the United States and local security must encourage everybody; provide all of us a higher desire to do more to reinforce security cooperation. Moreover, I want to explain at a previous subcommittee hearing on border security risks in the area, I raised concerns relating to reports that I had seen about citizen by investment programs in the Caribbean which have actually made it possible for scams, corruption, and exploitation by foreign nationals.