The de-risking of the reporter banking relationships are extremely essential to the Caribbean because worldwide financial banks have been vital not just to domestic economy but in its link to the global economy. Some services have currently been choked off and there should be a way for us to find an effort that integrates the security goals which we subscribe to, and likewise at the very same time, permit monetary intermediation such as trade financing, transfers of earnings, debt payments, et cetera, to continue. Third, security. The little states of the Caribbean find it very challenging to compete with transnational crime connected to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.
has actually done an impressive job in supporting these countries, but I believe there is room to do more in the interest of our mutual security. Security nowadays can just be specified as international and can just be reacted to by cooperation among nations. Furthermore, in the trade location there are some excellent legislation in location for trade. Nevertheless, much of the Caribbean nations are now service oriented nations and we require to examine possibilities for promoting shared and helpful worth chains which how to not inherit timeshare contract combine U.S. and Caribbean in services such as health care, education, and back workplace assistance. I think by integrating the skills on Capitol Hill with a few of the human resources in the Caribbean, these firms can stay competitive both here and in the U.S - How to finance a private car sale.
The Caribbean countries are seaside societies. Infrastructure, economic activity, population, the building environment are all focused on a narrow strip on the coast, even for those nations which are not islands, Click here for more info for instance, Belize and Guyana. It implies that they are among the most susceptible countries to climate change. More resources need to be made available in a more accessible way to alleviate climate modification and to help these countries in enduring. And I point particularly to the tourist market which is seriously based on the quality of that immediate coastal strip. Lastly, energy (How long can i finance a used car). 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 highest expense worldwide onto energy in less costly sources. That would serve to restore a whole variety of economic activity, consisting of manufacturing. Which of the following can be described as involving direct finance?. And I conclude, Mr. Chairman, by stating that all of these are interrelated aspects that need https://zenwriting.net/petrambc1f/at-this-moment-you-wouldand-39-ve-preferably-settled-your-first-home-mortgage to be attended to. If we could resolve them in one overall initiative 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 bold effort in U.S. policy toward the Caribbean.
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[The ready statement of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has agreed 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 quite and I apologize 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 important hearing. And I do not believe that we can go over U.S.
Venezuela established Petrocaribe in 2005 to help influence lots of countries in the hemisphere and as much as this point the technique has actually worked. Nevertheless, now we see the collapse of the Venezuelan economy since of the incompetence of the Maduro regime. So it offers the U.S. an opportunity to fill that space, and this is where we require the State Department and the Department of Energy to be extremely focused on this effort today because it is in our nationwide security interest to coordinate an energy option; a strategy so that less nations in the Western Hemisphere would depend on a really undependable Venezuela.
And I believe that we have actually got to be working with our partners, our allies in the Caribbean to assist them make the most of the plentiful and low-cost natural gas and the new advanced clean wind and solar technologies available. In this manner we reinforce our partners' economies, we buffer the region from the effects of Venezuelan collapse and take practical steps toward decreasing carbon emissions. So the crisis in Venezuela may cause an oil supply interruption. What impact would such a disruption have on the Caribbean countries? Mr. Bernal. My associates are figured out to make certain 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 nations were truly extremely stretched financially and actually needed some assistance. However, the relationship has its complexities. For example, Venezuela claims a huge share of Guyana which is a member of the CARICOM group. It also has extended its claims in regards to coastal waters based upon an island nearly 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean benefiting from some financial backing. I think we are at a juncture where the relationship is going to become extremely unforeseeable due to the fact that of nobody knows precisely what will occur in the Caribbean with Venezuela.
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Several Caribbean countries are thinking beyond Petrocaribe because they do not presume that it will continue in its present kind and they need to be considering alternatives. This creates a point in which brand-new efforts, consisting of from the U.S - How to finance building a home. in energy, would be extremely welcome in the region. Ms. Ros-Lehtinen. Thank you quite, 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 great to see all of you who, you know, we rely upon really much with your knowledge and because the Caribbean is extremely crucial, I believe.
It is really, you understand when you look at our hemisphere and we have actually got to make sure that we enhance and collaborating. And I hear my colleagues in regards to specifically Petrocaribe, however I believe that the issues that are facing a great deal 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 trying to ensure. So I wish to look for out as it relates to the islands themselves the important things that are most pressing with them that would help them overall with their economy, because I know, for instance, you can't simply rely on tourist or you can't just rely on, you understand, they have the diversity of it needs to be there.