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[Doloris Krieger]

The de-risking of the reporter banking relationships are really important to the Caribbean because worldwide monetary banks have actually been crucial not only to domestic economy but in its link to the worldwide economy. Some services have actually currently been choked off and there must be a method for us to find an initiative that combines the security objectives which we register for, and also at the very same time, permit monetary intermediation such as trade funding, transfers of profits, financial obligation payments, et cetera, to continue. Thirdly, security. The little states of the Caribbean discover it very difficult to compete with global criminal offense linked to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.

has actually done an exceptional job in supporting these countries, but I believe there is room to do more in the interest of our shared security. Security these days can just be defined as international and can just be responded to by cooperation among countries. Fourthly, in the trade area there are some excellent legislation in location for trade. However, much of the Caribbean nations are now service oriented nations and we need to take a look at possibilities for promoting mutual and helpful value chains which integrate U.S. and Caribbean in services such as health care, education, and back workplace assistance. I believe by combining the abilities on Capitol Hill with some of the human resources in the Caribbean, these companies can stay competitive both here and in Visit this page the U.S - How to finance an investment property.

The Caribbean nations are seaside societies. Facilities, economic activity, population, the structure environment are all concentrated on a narrow strip on the coast, even for those nations which are not islands, for example, Belize and Guyana. It implies that they are amongst the most susceptible countries to climate change. More resources need to be made readily available in a more accessible method to reduce environment change and to help these countries in making it through. And I point particularly to the traveler industry which is critically reliant on the quality of that immediate coastal strip. Lastly, energy (Which of these arguments might be used by someone who supports stri...). The Caribbean, bar the exceptions of Trinidad and Tobago, depend heavily on importation of energy.

Solar, wind, and thermal all have possibilities, and to move the production of electrical energy which is among the highest expense in the world onto energy in more economical sources. That would serve to revive an entire variety of economic activity, including production. How long can you finance a used car. And I conclude, Mr. Chairman, by stating that all of these are interrelated aspects that need to be resolved. If we could address them in one overall initiative led by the U.S. and involving the development of banks, I think that they enhance each other and it is time for a new strong effort in U.S. policy toward the Caribbean.

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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has agreed we are going to skip over him and go to the previous chairman of the full committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so quite and I excuse coming late. And we have another hearing which I am chairing on Syria, however thank you, Chairman Duncan and Ranking Member Sires, for holding this essential hearing. And I don't believe that we can talk about U.S.

Venezuela established Petrocaribe in 2005 to assist affect many nations in the hemisphere and approximately this point the method has worked. However, now we see the collapse of the Venezuelan economy due to the fact that of the incompetence of the Maduro routine. So it offers the U.S. a chance to fill that space, and this is where we require the State Department and the Department of Energy to be very concentrated on this effort right now since it is in our nationwide security interest to collaborate an energy service; a method so that less countries in the Western Hemisphere would be reliant on a really undependable Venezuela.

And I think that we have got to be working with our partners, our allies in the Caribbean to assist them benefit from the abundant and inexpensive natural gas and the new advanced clean wind and solar innovations available. By doing this we reinforce our partners' economies, we buffer the area from the effects of Venezuelan collapse and take realistic steps towards minimizing carbon emissions. So the crisis in Venezuela may cause an oil supply interruption. What effect would such a disruption have on the Caribbean nations? Mr. Bernal. My colleagues are determined to ensure I carry a fair share of the load.

Thank you for that. The relationship with Venezuela is a long and complicated one. Venezuela started the Petrocaribe at a time when lots of Caribbean countries were really very extended financially and actually needed some assistance. Nevertheless, the relationship has its intricacies. For example, Venezuela declares a large share of Guyana which belongs to the CARICOM group. It likewise has actually extended its claims in terms of coastal waters based upon an island practically 400 timeshare maintenance fees miles far from Venezuela and mainland, so that the relationship is not all the Caribbean taking advantage of some financial support. I think we are at a point where the relationship is going to end up being really unforeseeable since of no one understands precisely what will occur in the Caribbean with Venezuela.

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A number of Caribbean countries are believing beyond Petrocaribe due to the fact that they do not presume that it will continue in its present type and they have to be thinking of alternatives. This produces a juncture in which brand-new efforts, including from the U.S - What jobs can i get with a finance degree. in energy, would be really welcome in the area. Ms. Ros-Lehtinen. Thank you extremely much, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for taking some time to run down here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and excellent to see all of you who, you know, we rely upon quite with your knowledge and due to the fact that the Caribbean is incredibly essential, I think.

It is truly, you know when you look at our hemisphere and we have got to ensure that we enhance and collaborating. And I hear my colleagues in concerns to especially Petrocaribe, but I think that the issues that are challenging a lot of the islands-- and I see, for example, Mr. Ambassador, you listed as number 6 in order of top priority the energy crisis, et cetera, in attempting to make certain. So I desire to look for out as it relates to the islands themselves the important things that are most pressing with them that would help them total with their economy, since I understand, for instance, you can't simply rely on tourism or you can't just depend upon, you understand, they have the diversity of it needs to be there.