[House Hearing, 114 Congress] [From the U - What is a cd in finance.S. Federal Government Publishing Workplace] THE STRATEGIC VALUE OF STRUCTURE 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 using the Committee on Foreign Affairs [GRAPHIC( S) NOT OFFERED IN TIFF FORMAT] Available by means of the Internet: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. 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 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 billionaire luxury credit cards 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. Which of the following can be described as involving direct 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, 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 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 international 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 statement ... ... ... ...... 13 His Excellency Richard Bernal: Prepared declaration ... ...... 26 APPENDIX Hearing notice ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE TACTICAL VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ---------- THURSDAY, JULY 14, 2016 Home of Representatives, 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 concern order.
I would now like to recognize myself for an opening statement. Thank you, men, for your patience. Today, we need to highlight an extremely important region in our hemisphere that sadly frequently gets ignored. A lot of our Caribbean buddies have consistently advised the United States to pay more attention to the Caribbean, and I want you to understand that I have actually heard you. I would likewise like to thank Ranking Member Sires in particular for his management in working to prioritize jordan reinhart-smith this subcommittee's concentrate on the Caribbean. Nevertheless, while these are certainly crucial strengths for the area, the Caribbean has much more to provide which U.S. businesses, universities, and regional.
communities ought to consider when preparing future investment, scholastic research, or where to establish more powerful economic ties. Among the main tools of U.S. engagement with CARICOM countries is the Caribbean Basin Initiative, or CBI, which was produced in 1983. Can we turn that sound down a little bit, sir? Can we turn that down simply a little bit? Okay. Which was produced in 1983 and has actually consequently broadened to supply 17 countries and reliant territories with duty-free access to U.S. This engagement has actually resulted in a 44-percent increase in U.S. exports to the Caribbean over the past ten years, and last year the overall trade relationship in between the U.S.
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and the Caribbean was $33. 4 billion. I think it is critical to deal with our neighbors to mutually promote economic development through trade liberalization, respect for the guideline of law, and adherence to free market principles http://stephenqibm669.cavandoragh.org/the-9-minute-rule-for-what-is-the-difference-between-accounting-and-finance in order to attain success that is sustainable for the area. Accounting vs finance which is harder. In addition, I am a firm fan of much deeper U.S.-Caribbean energy relations. To me it is a win-win scenario. U.S. has an abundance of oil, gas, and technical competence, and the Caribbean has a few of the greatest energy costs on the planet and needs to reduce these costs by developing facilities for providing energy, incorporating energy markets to draw in investment and funding, and establish pipelines and liquified 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 crude oil and 28 percent of gas reserves in the hemisphere. Similarly, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have significant oil and natural gas production. In my view, freedom-loving, market-friendly, energy-producing countries in this hemisphere ought to be working more closely together to pursue hemisphere-acquired, energy self-reliance and that means assisting non-energy producing countries consisting of the Caribbean neighbors in reaching this goal. Ultimately, if the Western Hemisphere were more energy independent it would go a long way to changing our societies and security and independence and our economic growth. and CARICOM. However, I remain worried about the growing security difficulties in the area from transnational criminal companies that look for to use the region to ship drugs, migrants, and contraband to United States coasts. The Caribbean Basin.
Security Initiative is another tool the United States has actually utilized because 2010 to attend to regional security problems, and offered the Caribbean's tactical location to U.S. homeland, we need to keep considering ways to enhance CBSI and better cooperate with the regional partners to manage borders, block criminal groups 'ability to make use of permissive environments to their advantage. I am also worried about the people from the Caribbean that have actually joined Islamic extremist companies. Southern Command, General Kelly, testified before Congress that near to 100 people had left the Caribbean to go fight in Syria. At a subsequent rundown, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battlefield. These dangers to the United States and regional security need to inspire everyone; offer us all a higher determination to do more to reinforce security cooperation. Furthermore, I desire to explain at a previous subcommittee hearing on border security dangers in the area, I raised concerns relating to reports that I had actually seen about resident by investment programs in the Caribbean which have actually allowed fraud, corruption, and exploitation by foreign nationals.