[Home Hearing, 114 Congress] [From the U - How to find the finance charge.S. Federal Government Publishing Office] THE STRATEGIC SIGNIFICANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING BEFORE 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 making use of the Committee on Foreign Affairs [GRAPHIC( S) NOT OFFERED IN TIFF FORMAT] Readily available by means of the Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. FEDERAL GOVERNMENT PUBLISHING WORKPLACE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Files, U.S. Government Publishing Workplace Internet: book shop.
ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York City 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 can i do with a degree in finance. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York City 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 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 international affairs, University of the West Indies in Jamaica ... ... ... 24 LETTERS, DECLARATIONS, ETC., SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Additional resources Prepared statement ... ... ... ...... 7 Ms. Sally Yearwood: Prepared declaration ... ... ... ...... 13 wesley financial group fees His Excellency Richard Bernal: Prepared statement ... ...... 26 APPENDIX Hearing notification ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE TACTICAL IMPORTANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 Legislature, Subcommittee on the Western Hemisphere, Committee on Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )presiding. Mr. Duncan. Okay. A quorum being present, the subcommittee will pertain to order.
I would now like to recognize myself for an opening statement. Thank you, guys, for your patience. Today, we need to highlight a really crucial region in our hemisphere that sadly often gets neglected. A number of our Caribbean buddies have repeatedly advised the United States to pay more attention to the Caribbean, and I want you to know that I have actually heard you. I would likewise like to thank Ranking Member Sires in particular for his leadership in working to prioritize this subcommittee's focus on the Caribbean. Nevertheless, while these are definitely essential strengths for the region, the Caribbean has far more to use which U.S. organizations, universities, and local.
neighborhoods need to consider when preparing future financial investment, scholastic research study, or where to develop more powerful economic ties. Among the primary tools of U.S. engagement with CARICOM nations is the Caribbean Basin Initiative, or CBI, which was created in 1983. Can we turn that noise down a bit, sir? Can we turn that down just a bit? Okay. Which was developed in 1983 and has subsequently expanded to supply 17 countries and reliant territories with duty-free access to U.S. This engagement has led to a 44-percent increase in U.S. exports to the Caribbean over the past ten 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 Click here for more critical to work with our neighbors to equally promote financial development through trade liberalization, respect for the guideline of law, and adherence to free market concepts in order to accomplish prosperity that is sustainable for the area. What is a finance charge on a credit card. In addition, I am a company fan of much deeper U.S.-Caribbean energy relations. To me it is a great deal. U.S. possesses an abundance of oil, gas, and technical knowledge, and the Caribbean has some of the greatest energy expenses in the world and needs to lower these costs by building infrastructure for delivering energy, incorporating energy markets to attract investment and funding, and develop pipelines and liquified natural gas frameworks. After all, the United States is the biggest energy producer in the Western Hemisphere; collectively with Mexico and Canada, North America represents 71 percent of the hemisphere.
's unrefined oil and 28 percent of natural 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 need to be working more carefully together to pursue hemisphere-acquired, energy independence and that indicates assisting non-energy producing countries consisting of the Caribbean next-door neighbors in reaching this goal. Eventually, if the Western Hemisphere were more energy independent it would go a long method to transforming our societies and security and independence and our economic growth. and CARICOM. Nevertheless, I stay concerned about the growing security challenges in the area from transnational criminal companies that look for to utilize the area to ship drugs, migrants, and contraband to United States coasts. The Caribbean Basin.
Security Effort is another tool the United States has actually utilized because 2010 to attend to regional security problems, and provided the Caribbean's tactical area to U.S. homeland, we require to keep thinking about ways to improve CBSI and more successfully work together with the local partners to control borders, obstruct criminal groups 'capability to make use of liberal environments to their benefit. I am also worried about individuals from the Caribbean that have actually joined Islamic extremist companies. Southern Command, General Kelly, affirmed prior to Congress that near to 100 people had actually left the Caribbean to go battle in Syria. At a subsequent rundown, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battleground. These risks to the United States and local security ought to inspire everybody; give us all a higher willingness to do more to reinforce security cooperation. Additionally, I desire to point out at a previous subcommittee hearing on border security threats in the area, I raised concerns relating to reports that I had actually seen about person by financial investment programs in the Caribbean which have actually enabled scams, corruption, and exploitation by foreign nationals.