The de-risking of the reporter banking relationships are extremely important to the Caribbean because worldwide monetary banks have been crucial not just to domestic economy but in its link to the worldwide economy. Some services have actually already been choked off and there need to be a method for us to discover an initiative that integrates the security objectives which we register for, and likewise at the same time, allow financial intermediation such as trade funding, transfers of profits, debt payments, et cetera, to continue. Third, security. The little states of the Caribbean discover it extremely challenging to contend with transnational criminal activity linked to narcotics trafficking, international terrorism, cybersecurity, et cetera.
has done an impressive job in supporting these countries, however I believe there is space to do more in the interest of our shared security. Security nowadays can only be specified as worldwide and can just be reacted to by cooperation amongst countries. Fourthly, in the trade location there are some good legislation in place for trade. Nevertheless, a lot of the Caribbean countries are now service oriented countries and we require to examine possibilities for promoting mutual and advantageous value chains which combine U.S. and Caribbean in services such as health care, education, and back office assistance. I believe by combining the skills on Capitol Hill with some of the human resources in the Caribbean, these companies can remain competitive both here and in the U.S - How to finance a car from a private seller.
The Caribbean nations are seaside societies. Infrastructure, 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 instance, Belize and Guyana. It means that they are among the most susceptible nations to environment modification. More resources need to be made available in a more available method to mitigate environment modification and to assist these countries in surviving. And I point particularly to the traveler industry which is critically based on the quality of that immediate seaside strip. Finally, energy (What is a consumer finance account). 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 power which is amongst the greatest cost worldwide onto energy in more economical sources. That would serve to revive an entire variety of financial activity, including production. How long can i finance a used car. And I conclude, Mr. Chairman, by stating that all of these are interrelated elements that need to be resolved. If we could address them in one overall effort led by the U.S. and including the advancement of banks, I think that they strengthen each other and it is time for a new strong initiative in U.S. policy towards 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 a lot for making the effort to be here. Mr. Meeks has actually agreed we are going to avoid over him and go to the previous chairman of the full committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so really much and I ask forgiveness for 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 crucial hearing. And I don't think that we can talk about U.S.
Venezuela established Petrocaribe in 2005 to assist affect numerous countries in the hemisphere and up to this point the strategy has worked. However, now we see the collapse of the Venezuelan economy because of the incompetence of the Maduro regime. So it gives the U.S. a chance to fill https://www.thewowstyle.com/a-homebuyers-guide-to-finding-a-resourceful-real-estate-agent/ that void, and this is where we require the State Department and the Department of Energy to be very concentrated on this effort today since it remains in our national security interest to collaborate an energy service; a technique so that fewer countries in the Western Hemisphere would be dependent on an extremely unreliable Venezuela.
And I believe that we have actually got to be dealing with our partners, our allies in the Caribbean to help them take advantage of the abundant and low-cost natural gas and the new advanced tidy wind and solar innovations readily available. This method we reinforce our partners' economies, we buffer the area from the impacts of Venezuelan collapse and take sensible steps toward minimizing carbon emissions. So the crisis in Venezuela might cause an oil supply disturbance. What impact would such a disruption have on the Caribbean nations? Mr. Bernal. My colleagues are figured out to make sure I bring a fair share of the load.
Thank you for that. The relationship with Venezuela is a long and complicated one. Venezuela initiated the Petrocaribe at a time when many Caribbean nations were really extremely stretched economically and really required some assistance. Nevertheless, the relationship has its intricacies. For instance, Venezuela declares a large share of Guyana which belongs to the CARICOM group. It likewise has extended its claims in regards to coastal waters based on an island nearly 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean benefiting from some financial support. I believe we are at a juncture where the relationship is going to end up being really unpredictable since of no one knows exactly what will take place in the Caribbean with Venezuela.
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Numerous 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 believing of options. This produces a juncture in which new initiatives, including from the U.S - What are the two ways government can finance a budget deficit?. in energy, would be extremely welcome in the region. Ms. Ros-Lehtinen. Thank you really 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 timeshare rescission letter template 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 understand, we rely upon quite with your knowledge and since the Caribbean is exceptionally essential, I believe.
It is truly, you know when you look at our hemisphere and we have actually got to ensure that we enhance and collaborating. And I hear my coworkers in concerns to especially Petrocaribe, however I think that the concerns that are facing a great deal of the islands-- and I notice, for instance, Mr. Ambassador, you noted as number six in order of priority the energy crisis, et cetera, in trying to ensure. So I wish to look for out as it relates to the islands themselves the things that are most pressing with them that would assist them total with their economy, because I understand, for example, you can't just depend upon tourist or you can't just depend upon, you understand, they have the diversity of it needs to be there.