[Home Hearing, 114 Congress] [From the U - How to owner finance a home.S. Federal Government Publishing Workplace] THE STRATEGIC IMPORTANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS LEGISLATURE 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] Readily available via 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 Documents, U.S. Government Publishing Office Internet: book shop.
ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York ILEANA ROS-LEHTINEN, Florida BRAD SHERMAN, California DANA ROHRABACHER, California GREGORY W. MEEKS, New York 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 does leverage mean in finance. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York DANIEL DONOVAN, New York City Amy Porter, Chief of Staff 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 RON De, SANTIS, Florida ALAN GRAYSON, Florida TED S.
LOWENTHAL, California DANIEL DONOVAN, New York 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, DECLARATIONS, AND SO ON, SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Prepared statement ... ... ... ...... 7 Ms. Sally Yearwood: Prepared declaration ... ... ... ...... 13 His Excellency Richard Bernal: Prepared declaration ... ...... 26 APPENDIX Hearing notice ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE STRATEGIC VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 Home 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 being present, the subcommittee will come to order.
I would now like to acknowledge myself for an opening statement. Thank you, guys, for your patience. Today, we require to highlight an extremely important area in our hemisphere that regrettably frequently gets neglected. A lot of our Caribbean pals have actually repeatedly prompted the United States to pay more attention to the Caribbean, and I want you to know that I have heard you. I would likewise like to thank Ranking Member Sires in particular for his management in working to prioritize this subcommittee's concentrate on the Caribbean. However, while these are definitely crucial strengths for the region, the Caribbean has a lot more to offer which U.S. companies, universities, and regional.
neighborhoods must think about when preparing future financial investment, academic research, or where to establish stronger economic ties. One of the primary tools of U.S. engagement with CARICOM countries is the Caribbean Basin Effort, or CBI, which was developed in 1983. Can we turn that sound down a little bit, sir? Can we turn that down simply a little bit? Okay. Which was created in 1983 and has actually subsequently broadened to offer 17 nations and dependent territories with duty-free access to U.S. This engagement has resulted in a 44-percent increase in U.S. exports to the Caribbean over the previous ten years, and last year the total trade relationship in https://brimurpzd3.doodlekit.com/blog/entry/20736840/top-guidelines-of-besides-the-finance-charge-you-should-also-consider-____-when-you-shop-for-a-consumer-loan between the U.S.
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and the Caribbean was $33. 4 billion. I think it is critical to deal with our get rid of timeshare for free neighbors to mutually promote economic growth through trade liberalization, respect for the guideline of law, and adherence to free market concepts in order to attain prosperity that is sustainable for the region. What is a future in finance. In addition, I am a company fan of much deeper U.S.-Caribbean energy relations. To me it is a win-win situation. U.S. possesses an abundance of oil, natural gas, and technical knowledge, and the Caribbean has a few of the highest energy expenses worldwide and requires to decrease these costs by building facilities for providing energy, incorporating energy markets to attract financial investment and funding, and develop pipelines and liquified natural gas structures. After all, the United States is the biggest energy producer in the Western Hemisphere; jointly with Mexico and Canada, The United States and Canada represents 71 percent of the hemisphere.
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's unrefined oil and 28 percent of natural gas reserves in the hemisphere. Similarly, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have significant oil and gas production. In how to get a timeshare my view, freedom-loving, market-friendly, energy-producing countries in this hemisphere ought to be working more closely together to pursue hemisphere-acquired, energy independence which implies assisting non-energy producing nations including the Caribbean neighbors in reaching this goal. Eventually, if the Western Hemisphere were more energy independent it would go a long method to changing our societies and security and self-reliance and our economic growth. and CARICOM. However, I remain concerned about the growing security challenges in the area from multinational criminal organizations that seek to use the area to deliver drugs, migrants, and contraband to United States coasts. The Caribbean Basin.
Security Effort is another tool the United States has used considering that 2010 to attend to regional security problems, and provided the Caribbean's strategic location to U.S. homeland, we need to keep considering methods to enhance CBSI and more effectively work together with the regional partners to manage borders, obstruct criminal groups 'ability to make use of permissive environments to their benefit. I am also worried about the people from the Caribbean that have joined Islamic extremist organizations. Southern Command, General Kelly, testified before Congress that close to 100 individuals had left the Caribbean to go fight in Syria. At a subsequent briefing, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battleground. These threats to the United States and local security need to inspire all of us; offer us all a higher determination to do more to strengthen security cooperation. Moreover, I want to explain at a previous subcommittee hearing on border security hazards in the region, I raised issues relating to reports that I had actually seen about resident by investment programs in the Caribbean which have made it possible for scams, corruption, and exploitation by foreign nationals.