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[House Hearing, 114 Congress] [From the U - What is a consumer finance account.S. Government Publishing Office] THE STRATEGIC IMPORTANCE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN COLLABORATION ======================================================================= HEARING BEFORE THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOUSE OF REPRESENTATIVES 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 READILY AVAILABLE IN TIFF FORMAT] Available via the Internet: 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 Web: 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 City 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 https://blogfreely.net/sharapmc32/they-still-think-they-are-visiting-hemingway-having-a-beverage-over-there-at-la J. What is internal rate of return in finance. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York DANIEL DONOVAN, New York Amy Porter, Chief of Personnel 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 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, STATEMENTS, ETC., SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Prepared statement ... ... ... ...... 7 Ms. Sally Yearwood: Prepared statement ... ... ... ...... 13 His Excellency Richard Bernal: Prepared statement ... ...... 26 APPENDIX Hearing notice ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE STRATEGIC IMPORTANCE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 House 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 existing, the subcommittee will come to order.

I would now like to acknowledge myself for an opening statement. Thank you, men, for your persistence. Today, we need to highlight a very important region in our hemisphere that regrettably frequently gets neglected. Much of our Caribbean good friends have consistently urged the United States to pay more attention to the Caribbean, and I want you to know that I have heard you. I would also like to thank Ranking Member Sires in particular for his leadership in working to prioritize this subcommittee's concentrate on the Caribbean. Nevertheless, while these are certainly essential strengths for the area, the Caribbean has much more to provide which U.S. businesses, universities, and regional.

neighborhoods should think about when planning future financial investment, academic research study, 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 created in 1983. Can we turn that sound down a little bit, sir? Can we turn that down just a little bit? Okay. Which was created in 1983 and has subsequently broadened to provide 17 nations and reliant areas with duty-free access to U.S. This engagement has actually resulted in a 44-percent boost in U.S. exports to the Caribbean over the previous 10 years, and last year the overall trade relationship between the U.S.

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and the Caribbean was $33. 4 billion. I think it is vital to work with our neighbors to mutually promote economic growth through trade liberalization, regard for the rule of law, and adherence to free enterprise concepts in order to achieve success that is sustainable for the region. What can i do with a degree in finance. In addition, I am a firm supporter of deeper U.S.-Caribbean energy relations. To me it is a win-win scenario. U.S. has an abundance of oil, natural gas, and technical expertise, and the Caribbean has some of the greatest energy costs worldwide and needs to reduce these expenses by developing infrastructure for providing energy, incorporating energy markets to draw in financial investment and funding, and develop pipelines and liquified gas frameworks. After all, the United States is the biggest energy producer in the Western Hemisphere; collectively with Mexico Helpful resources and Canada, North America represents 71 percent of timeshare alternatives the hemisphere.

's crude oil and 28 percent of gas reserves in the hemisphere. Likewise, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have considerable oil and natural 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 self-reliance and that suggests assisting non-energy producing countries including the Caribbean next-door neighbors in reaching this goal. Eventually, if the Western Hemisphere were more energy independent it would go a long way to transforming our societies and security and self-reliance and our economic development. and CARICOM. Nevertheless, I stay concerned about the growing security difficulties in the region from multinational criminal companies that look for to use the area to ship drugs, migrants, and contraband to United States shores. The Caribbean Basin.

Security Effort is another tool the United States has used given that 2010 to deal with local security issues, and given the Caribbean's tactical location to U.S. homeland, we require to keep thinking about ways to improve CBSI and better work together with the regional partners to control borders, obstruct criminal groups 'ability to exploit liberal environments to their advantage. I am likewise worried about the people from the Caribbean that have joined Islamic extremist organizations. Southern Command, General Kelly, testified prior to Congress that near 100 people had left the Caribbean to go battle in Syria. At a subsequent instruction, he particularly named Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battleground. These threats to the United States and local security should inspire everybody; give all of us a higher willingness to do more to reinforce security cooperation. Furthermore, I desire to explain at a previous subcommittee hearing on border security threats in the area, I raised concerns concerning reports that I had actually seen about citizen by financial investment programs in the Caribbean which have actually made it possible for fraud, corruption, and exploitation by foreign nationals.