[Home Hearing, 114 Congress] [From the U - How old of a car will a bank finance.S. Government Publishing Workplace] THE STRATEGIC IMPORTANCE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON how to get a time share FOREIGN AFFAIRS HOME OF REPRESENTATIVES ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION JULY 14, 2016 Serial No. 114-189 Printed for making use of the Committee on Foreign Affairs [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] Readily available via the World Wide Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. FEDERAL GOVERNMENT PUBLISHING OFFICE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Files, U.S. Federal Government Publishing Office Internet: book shop.
ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York 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. time-share 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. What is a consumer finance company. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York City DANIEL DONOVAN, New York City Amy Porter, Chief of Staff 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. MEEKS, New York City 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 worldwide affairs, University of the West Indies in Jamaica ... ... ... 24 LETTERS, DECLARATIONS, 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 VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 House of Representatives, Subcommittee on the Western Hemisphere, Committee on Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )presiding. Mr. Duncan. Okay. A quorum existing, the subcommittee will come to order.
I would now like to recognize myself for an opening statement. Thank you, guys, for your persistence. Today, we require to highlight a really important region in our hemisphere that unfortunately frequently gets ignored. Many of our Caribbean pals have repeatedly urged the United States to pay more attention to the Caribbean, and I want you to understand that I have actually heard you. I would also like to thank Ranking Member Sires in particular for his management in working to prioritize this subcommittee's focus on the Caribbean. Nevertheless, while these are definitely crucial strengths for the area, the Caribbean has much more to use which U.S. businesses, universities, and local.
neighborhoods must consider when planning future investment, academic research study, or where to establish more powerful financial ties. One of the primary tools of U.S. engagement with CARICOM nations is the Caribbean Basin Initiative, or CBI, which was created in 1983. Can we turn that sound down a little bit, sir? Can we turn that down just a little bit? Okay. Which was developed in 1983 and has actually subsequently expanded to supply 17 nations and dependent territories with duty-free access to U.S. This engagement has led to a 44-percent increase 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 crucial to work with our next-door neighbors to mutually promote financial development through trade liberalization, regard for the rule of law, and adherence to free enterprise principles in order to achieve prosperity that is sustainable for the region. How long can you finance a used car. In addition, I am a company advocate of deeper U.S.-Caribbean energy relations. To me it is a win-win situation. U.S. possesses an abundance of oil, natural gas, and technical know-how, and the Caribbean has some of the greatest energy expenses in the world and needs to reduce these expenses by building facilities for delivering energy, incorporating energy markets to attract investment and financing, and develop pipelines and liquified gas frameworks. After all, the United States is the largest energy manufacturer in the Western Hemisphere; jointly with Mexico and Canada, The United States and Canada accounts for 71 percent of the hemisphere.
's crude oil and 28 percent of gas Check out here reserves in the hemisphere. Similarly, 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 must be working more carefully together to pursue hemisphere-acquired, energy independence which indicates helping non-energy producing nations consisting of the Caribbean next-door neighbors in reaching this goal. Ultimately, 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 financial development. and CARICOM. However, I stay worried about the growing security challenges in the area from global criminal organizations that look for to utilize the region to deliver drugs, migrants, and contraband to United States shores. The Caribbean Basin.
Security Effort is another tool the United States has actually utilized given that 2010 to deal with local security concerns, and provided the Caribbean's strategic location to U.S. homeland, we require to keep thinking about ways to enhance CBSI and better work together with the regional partners to manage borders, block criminal groups 'ability to make use of liberal environments to their benefit. I am also concerned about individuals from the Caribbean that have actually joined Islamic extremist organizations. Southern Command, General Kelly, testified prior to Congress that close to 100 people had left the Caribbean to go battle in Syria. At a subsequent rundown, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battlefield. These threats to the United States and local security should motivate everybody; give us all a higher determination to do more to enhance security cooperation. Furthermore, I want to point out at a previous subcommittee hearing on border security hazards in the region, I raised issues relating to reports that I had seen about citizen by investment programs in the Caribbean which have enabled fraud, corruption, and exploitation by foreign nationals.