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[House Hearing, 114 Congress] [From the U - How old of a car will a bank finance.S. Federal Government Publishing Workplace] THE STRATEGIC IMPORTANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ======================================================================= 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. Home page 114-189 Printed for using the Committee on Foreign Affairs [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] Available via the Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. GOVERNMENT PUBLISHING OFFICE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Files, U.S. Government Publishing Workplace Internet: bookstore.

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 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 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, 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 global affairs, University of the West Indies in Jamaica ... ... ... 24 LETTERS, STATEMENTS, 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 STRATEGIC SIGNIFICANCE OF STRUCTURE 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 )administering. 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, men, for your persistence. Today, we need to highlight a very crucial region in our hemisphere that sadly often gets neglected. A number of our Caribbean friends have actually consistently prompted the United States to pay more attention to the Caribbean, and I want you to know that I have heard you. I would likewise like to thank Ranking Member Sires in specific for his management in working to prioritize this subcommittee's concentrate on the Caribbean. However, while these are certainly essential strengths for the area, the Caribbean has far more to use which U.S. companies, universities, and local.

communities need to think about when planning future investment, academic research, or where to establish stronger 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 bit? Okay. Which was produced in 1983 and has actually consequently expanded to provide 17 countries and reliant territories 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 ten years, and in 2015 the overall trade relationship between the U.S.

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and the Caribbean was $33. 4 billion. I believe it is vital to deal with our neighbors to equally promote financial growth through trade liberalization, respect for the guideline of law, and adherence to complimentary market concepts in order to attain prosperity that is sustainable for the area. How to finance a car from a private seller. In addition, I am a company supporter of deeper U.S.-Caribbean energy relations. To me it is a win-win situation. U.S. has an abundance of oil, gas, and technical proficiency, and the Caribbean has a few of the greatest energy costs in the world and needs to decrease these costs by developing infrastructure for delivering energy, integrating energy markets to attract investment and funding, and develop pipelines and liquified gas frameworks. After all, the United States is the biggest energy producer in the Western Hemisphere; jointly with Mexico and Canada, The United States and Canada accounts for 71 percent of the hemisphere.

's unrefined 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 nations in this hemisphere ought to be working more closely together to pursue hemisphere-acquired, energy independence and that indicates helping non-energy producing nations consisting of the Caribbean next-door neighbors in reaching this objective. Eventually, 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. Nevertheless, I stay concerned about the growing security difficulties in the area from transnational criminal organizations that look for to utilize the area to deliver drugs, migrants, and contraband to United States shores. The Caribbean Basin.

Security Initiative is another tool the United States has actually utilized given that 2010 to deal with local security issues, and given the Caribbean's tactical area to U.S. homeland, we need to keep thinking about ways to improve follow this link CBSI and better cooperate with the regional partners to control borders, obstruct criminal groups 'ability to make use of liberal environments to their advantage. I am also worried about the people from the Caribbean that have actually signed up with Islamic extremist organizations. Southern Command, General Kelly, testified before Congress that near to 100 people had actually left the Caribbean to go fight in Syria. At a subsequent briefing, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had people leave for the battlefield. These risks to the United States and local security ought to motivate everyone; give all of us a higher determination to do more to enhance security cooperation. Furthermore, I desire to explain at a previous subcommittee hearing on border security threats in the area, I raised issues relating to reports that I had timeshare agreement seen about person by investment programs in the Caribbean which have allowed fraud, corruption, and exploitation by foreign nationals.