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The de-risking of the correspondent banking relationships are really essential to the Caribbean due to the fact that global monetary banks have been important not just to domestic economy but in its link to the worldwide economy. Some services have actually currently been choked off and there should be a way for us to find an initiative that combines the security objectives which we sign up for, and also at the exact same time, permit financial intermediation such as trade funding, transfers of revenues, financial obligation payments, et cetera, to continue. Third, security. The small states of the Caribbean find it really difficult to compete with transnational crime linked to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.

has actually 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 amongst countries. Fourthly, in the trade location there are some excellent legislation in location for trade. Nevertheless, many of the Caribbean countries are now service oriented countries and we need to examine possibilities for promoting mutual and helpful worth chains which combine U.S. and Caribbean in services such as healthcare, education, and back office support. I think by integrating the abilities how much timeshare cost on Capitol Hill with some of the personnels in the Caribbean, these firms can remain competitive both here and in the U.S - How long can i finance a used car.

The Caribbean countries are coastal societies. Facilities, economic activity, population, the building 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 implies that they are among the most susceptible nations to climate modification. More resources require to be provided in a more accessible method to alleviate climate modification and to assist these nations in making it through. And I point particularly to the traveler market which is critically based on the quality of that instant seaside strip. Lastly, energy (What happened to yahoo finance portfolios). 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 among the highest expense worldwide onto energy in cheaper sources. That would serve to restore a whole series of economic activity, including manufacturing. What does ach stand for in finance. And I conclude, Mr. Chairman, by saying that all of these are interrelated aspects that require to be attended to. If we might resolve them in one overall initiative led by the U.S. and including the advancement of banks, I believe that they strengthen each other and it is time for a new vibrant effort in U.S. policy towards the Caribbean.

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[The ready statement of Mr. Bernal follows:] [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you a lot for making the effort to be here. Mr. Meeks has 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 very much and I excuse coming late. And we have another hearing which I am chairing on Syria, but thank you, Chairman Duncan and Ranking Member Sires, for holding this important hearing. And I do not believe that we can discuss U.S.

Venezuela developed Petrocaribe in 2005 to help influence numerous countries in the hemisphere and as much as this point the method has worked. However, now we see the collapse of the Venezuelan economy since of the incompetence of the Maduro routine. So it offers the U.S. a chance to fill that space, and this is where we need the State Department and the Department of Energy to be extremely concentrated on this effort right now due to the fact that it remains in our national security interest to coordinate an energy solution; a method so that fewer countries in the Western Hemisphere would be reliant 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 natural gas and the brand-new innovative tidy wind and solar innovations available. This method we strengthen our partners' economies, we buffer the area from the impacts of Venezuelan collapse and take sensible steps towards lowering carbon emissions. So the crisis in Venezuela might cause an oil supply interruption. What impact would such an interruption have on the Caribbean nations? Mr. Bernal. My coworkers are identified to make certain I carry a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complicated one. Venezuela started the Petrocaribe at a time when lots of Caribbean countries were actually extremely extended economically and really needed some assistance. However, the relationship has its intricacies. For example, Venezuela claims a very big share of Guyana which belongs to the CARICOM group. It also has 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 monetary support. I think we are at a point where the relationship is going to end up being very unforeseeable due to the fact that of nobody knows precisely what will occur in the Caribbean with Venezuela.

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Numerous Caribbean countries are believing beyond Petrocaribe because they do not assume that icanceltimeshare.com it will continue in its present form and they have to be thinking of alternatives. This produces a juncture in which brand-new efforts, including from the U.S - The trend in campaign finance law over time has been toward which the following?. in energy, would be very 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 requiring 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 understand, we trust very much with your proficiency and due to the fact that the Caribbean is extremely crucial, I believe.

It is actually, you know when you take a look at our hemisphere and we have actually got to make certain that we strengthen and working together. And I hear my associates in concerns to particularly Petrocaribe, however I think that the issues that are challenging a great deal of the islands-- and I see, for example, Mr. Ambassador, you listed as number 6 in order of concern the energy crisis, et cetera, in attempting to ensure. So I want to look for out as it relates to the islands themselves the things that are most pushing with them that would help them general with their economy, because I understand, for instance, you can't just depend upon tourism or you can't just rely on, you know, they have the diversity of it needs to be there.