[House Hearing, 114 Congress] [From the U - What was the reconstruction finance corporation.S. Government Publishing Workplace] THE STRATEGIC IMPORTANCE OF BUILDING 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 through the Internet: 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. Federal Government Publishing Workplace Web: 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 wesley timeshare exit 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 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. Accounting vs finance which is harder. 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 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. wesley financial group careers 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, ETC., SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Prepared declaration ... ... ... ...... 7 Ms. Sally Yearwood: Prepared declaration ... ... ... ...... 13 His Excellency Richard Bernal: Prepared declaration ... ...... 26 APPENDIX Hearing notice ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE STRATEGIC SIGNIFICANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ---------- THURSDAY, JULY 14, 2016 Legislature, 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 acknowledge myself for an opening statement. Thank you, guys, for your patience. Today, we need to highlight a really important area in our hemisphere that regrettably typically gets neglected. Much of our Caribbean good friends have actually repeatedly advised the United States to pay more attention to the Caribbean, and I desire you to know that I have actually heard you. I would also like to chuck mcdowell net worth thank Ranking Member Sires in specific for his management in working to prioritize this subcommittee's concentrate on the Caribbean. Nevertheless, while these are certainly essential strengths for the area, the Caribbean has far more to use which U.S. services, universities, and local.
communities must consider when planning future investment, scholastic research, or where to develop stronger economic ties. Among the main tools of U.S. engagement with CARICOM countries is the Caribbean Basin Effort, or CBI, which was created in 1983. Can we turn that noise down a bit, sir? Can we turn that down simply a bit? Okay. Which was developed in 1983 and has actually subsequently broadened to offer 17 countries and dependent areas with duty-free access to U.S. This engagement has actually led to a 44-percent boost in U.S. exports to the Caribbean over the past 10 years, and last year the total 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 growth through trade liberalization, respect for the rule of law, and adherence to free enterprise principles in order to attain prosperity that is sustainable for the region. Trade credit may be used to finance a major part of a firm's working capital when. In addition, I am a firm advocate of deeper U.S.-Caribbean energy relations. To me it is a great deal. U.S. has an abundance of oil, gas, and technical expertise, and the Caribbean has a few of the highest energy costs on the planet and requires to reduce these expenses by developing infrastructure for providing energy, incorporating energy markets to attract financial investment and financing, and establish pipelines and liquified natural gas structures. After all, the United States is the largest energy producer in the Western Hemisphere; collectively with Mexico and Canada, The United States and Canada accounts for 71 percent of the hemisphere.
's crude oil and 28 percent of natural gas reserves in the hemisphere. Likewise, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have substantial oil and natural gas production. In my view, freedom-loving, market-friendly, energy-producing countries in this hemisphere should be working more carefully together to pursue hemisphere-acquired, energy independence and that indicates helping non-energy producing nations 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 changing our societies and security and self-reliance and our economic development. and CARICOM. However, I remain concerned about the growing security challenges in the area from transnational criminal companies that seek to utilize the region 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 regional security issues, and offered the Caribbean's strategic area to U.S. homeland, we need to keep considering ways to improve CBSI and more effectively work together with the local partners to control borders, obstruct criminal groups 'capability to exploit permissive environments to their advantage. I am also concerned about the people from the Caribbean that have signed up with Islamic extremist companies. Southern Command, General Kelly, testified before Congress that near to 100 people had left the Caribbean to go battle in Syria. At a subsequent briefing, he particularly called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battlefield. These dangers to the United States and regional security should encourage everybody; offer us all a greater willingness to do more to reinforce security cooperation. Additionally, I wish to explain at a previous subcommittee hearing on border security threats in the area, I raised concerns regarding reports that I had actually seen about citizen by financial investment programs in the Caribbean which have actually enabled scams, corruption, and exploitation by foreign nationals.