The de-risking of the reporter banking relationships are really essential to the Caribbean because worldwide monetary banks have actually been important not only to domestic economy however in its link to the global economy. Some services have currently been choked off and there should be a method for us to find an initiative that combines the security objectives which we register for, and likewise at the exact same time, allow financial intermediation such as trade funding, transfers of earnings, financial obligation payments, et cetera, to continue. Thirdly, security. The small states of the Caribbean find it extremely challenging to contend with global criminal activity connected to narcotics trafficking, international terrorism, cybersecurity, et cetera.

has done an impressive task in supporting these countries, but I think there is room to do more in the interest of our mutual security. Security nowadays can just be defined as global and can just be reacted to by cooperation among nations. Furthermore, in the trade area there are some great legislation in place for trade. However, many of the Caribbean countries are now service oriented countries and we need to analyze possibilities for promoting shared and advantageous worth chains which integrate U.S. and Caribbean in services such as healthcare, education, and back office support. I believe by https://www.taringa.net/boisetyzdn/the-best-strategy-to-use-for-how... integrating the abilities on Capitol Hill with a few of the human resources in the Caribbean, these companies can stay competitive both here and in the U.S - How to finance an investment property.

The Caribbean countries are coastal societies. Infrastructure, financial activity, population, the structure environment are all focused on a narrow strip on the coast, even for those countries which are not islands, for example, Belize and Guyana. It implies that they are among the most susceptible countries to climate modification. More resources require to be made readily available in a more available method to mitigate climate change and to assist these nations in surviving. And I point especially to the traveler market which is seriously depending on the quality of that immediate coastal strip. Finally, energy (How to finance a second home). The Caribbean, bar the exceptions of Trinidad and Tobago, depend greatly on importation of energy.

Solar, wind, and thermal all have possibilities, and to shift the production of electrical energy which is amongst the greatest expense on the planet onto energy in less costly sources. That would serve to revive a whole series of economic activity, including manufacturing. What is internal rate of return in finance. And I conclude, Mr. Chairman, by saying that all of these are interrelated aspects that need to be dealt with. If we might address them in one total initiative led by the U.S. and including the development of financial institutions, I believe that they reinforce each other and it is time for a new bold effort in U.S. policy towards the Caribbean.

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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has actually concurred we are going to avoid over him and go to the former chairman of the complete committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so extremely much 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 do not believe that we can talk about U.S.

Venezuela established Petrocaribe in 2005 to assist affect numerous countries in the hemisphere and approximately this point the method has actually worked. Nevertheless, now we see the collapse of the Click for source Venezuelan economy since of the incompetence of the Maduro program. So it offers the U.S. an opportunity to fill that space, and this is where we need the State Department and the Department of Energy to be very focused on this effort today due to the fact that it is in our national security interest to collaborate an energy option; a technique so that less countries in the Western Hemisphere would be dependent on a very unreliable Venezuela.

And I think that we have got to be dealing with our partners, our allies in the Caribbean to assist them benefit from the abundant and cheap gas and the new sophisticated tidy wind and solar technologies readily available. In this manner we strengthen our partners' economies, we buffer the area from the impacts of Venezuelan collapse and take practical actions towards lowering carbon emissions. So the crisis in Venezuela might cause an oil supply interruption. What effect would such a disturbance have on the Caribbean countries? Mr. Bernal. My colleagues are figured out to ensure I bring a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complex one. Venezuela initiated the Petrocaribe at a time when numerous Caribbean countries were really very extended financially and actually required some help. Nevertheless, the relationship has its intricacies. For instance, Venezuela declares a huge share of Guyana which belongs to the CARICOM group. It also has actually extended its claims in terms of coastal waters based on an island nearly 400 miles away from Venezuela and mainland, so that the relationship is not all the Caribbean taking advantage of some financial backing. I think we are at a point where the relationship is going to end up being extremely unpredictable since of no one understands exactly what will occur in the Caribbean with Venezuela.

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A number of Caribbean countries are believing beyond Petrocaribe since they don't presume that it will continue in its present type and they have to be considering options. This produces a point in which new efforts, including from the U.S - How old of an rv can you finance. in energy, would be extremely 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 time to diminish here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and good to see all of you who, you know, we trust quite with your competence and due to the fact that the Caribbean is exceptionally important, I think.

It is actually, you know when you take a look at our hemisphere and we have actually got to make sure that we reinforce and collaborating. And I hear my associates in regards to especially Petrocaribe, however I think that the issues that are facing a lot of the islands-- and I notice, for instance, Mr. Ambassador, you noted as number 6 in order of concern the energy crisis, et cetera, in attempting to make sure. So I wish to try to discover out as it relates to the islands themselves the important things that are most pressing with them that would assist them general with their economy, because I know, for instance, you can't simply rely on tourism or you can't just depend upon, you understand, they have the diversification of it needs to be there.