[House Hearing, 114 Congress] [From the U - What can i do with a degree in finance.S. Government Publishing Office] THE STRATEGIC VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOME OF REPRESENTATIVES ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION JULY 14, 2016 Serial No. 114-189 Printed for using the Committee on Foreign Affairs [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] 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 Office 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 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 is a swap in finance. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York City DANIEL DONOVAN, New York Amy Porter, Chief of Staff Thomas Sheehy, Personnel Director Jason Steinbaum, Democratic Staff 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 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, ETC., 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 TACTICAL IMPORTANCE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ---------- THURSDAY, JULY 14, 2016 Home of Representatives, Subcommittee on what is a floating week timeshare 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 come to order.
I would now like to acknowledge myself for an opening statement. Thank you, people, for your persistence. Today, we need to highlight a really important region in our hemisphere that regrettably typically gets ignored. Many of our Caribbean buddies have actually repeatedly prompted the United States to pay more attention to the Caribbean, and I desire you to understand that I have actually heard you. I would also like to thank Ranking Member Sires in particular for his leadership in working to prioritize this subcommittee's focus on the Caribbean. However, while these are certainly crucial strengths for the region, the Caribbean has far more to provide which U.S. businesses, universities, and local.
neighborhoods ought to consider when preparing future financial investment, scholastic research, or where to develop stronger economic ties. Among the main tools of U.S. engagement with CARICOM countries is the Caribbean Basin Effort, or CBI, which was developed in 1983. Can we turn that noise down a bit, sir? Can we turn that down simply a bit? Okay. Which was developed in 1983 and has consequently broadened to offer 17 countries and reliant territories with duty-free access to U.S. This engagement has actually led to a 44-percent increase in U.S. exports to the Caribbean over the past 10 years, and in 2015 the overall trade relationship in between the U.S.
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and the Caribbean was $33. 4 billion. I think it is crucial to work with our next-door neighbors to equally promote financial growth through trade liberalization, respect for the rule of law, and adherence to free enterprise principles in order to accomplish success that is sustainable for the area. The trend in campaign finance law over time has been toward which the following?. In addition, I am a firm supporter of much deeper U.S.-Caribbean energy new timeshare laws 2020 relations. To me it is a great deal. U.S. possesses an abundance of oil, gas, and technical proficiency, and the Caribbean has some of the highest energy expenses worldwide and needs to lower these expenses by constructing infrastructure for providing energy, integrating energy markets to attract investment and funding, and develop pipelines and liquified natural gas frameworks. After all, the United States is the largest energy producer in the Western Hemisphere; jointly with Mexico and Canada, North America accounts for 71 percent of the hemisphere.
's petroleum and Click here to find out more 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 countries in this hemisphere need to be working more carefully together to pursue hemisphere-acquired, energy independence which suggests helping non-energy producing countries including the Caribbean neighbors in reaching this goal. Eventually, if the Western Hemisphere were more energy independent it would go a long way to changing our societies and security and self-reliance and our financial growth. and CARICOM. Nevertheless, I remain concerned about the growing security difficulties in the area from global criminal organizations that seek to utilize the area to ship drugs, migrants, and contraband to United States shores. The Caribbean Basin.
Security Effort is another tool the United States has utilized considering that 2010 to address local security problems, and given the Caribbean's strategic place to U.S. homeland, we require to keep considering ways to enhance CBSI and better cooperate with the regional partners to manage borders, obstruct criminal groups 'capability to exploit permissive environments to their advantage. I am also concerned about the individuals from the Caribbean that have joined Islamic extremist organizations. Southern Command, General Kelly, affirmed prior to Congress that close to 100 people had left the Caribbean to go fight in Syria. At a subsequent briefing, he specifically named Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battleground. These risks to the United States and regional security need to encourage all of us; offer us all a higher willingness 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 concerns relating to reports that I had actually seen about resident by investment programs in the Caribbean which have actually enabled scams, corruption, and exploitation by foreign nationals.
