[House Hearing, 114 Congress] [From the U - What are the two ways government can finance a budget deficit?.S. Government Publishing Workplace] THE STRATEGIC SIGNIFICANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOUSE OF REPRESENTATIVES ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION JULY 14, 2016 Serial No. 114-189 Printed for using the Committee on Foreign Affairs [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] Readily available by means of the Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. GOVERNMENT PUBLISHING WORKPLACE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Files, U.S. Government Publishing Workplace 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 STEVE CHABOT, Ohio ALBIO SIRES, New Jersey 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. Which one of the following occupations best fits into the corporate area of finance?. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York DANIEL DONOVAN, New York Amy Porter, Chief of Staff Thomas Sheehy, Personnel 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 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 global 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 TACTICAL IMPORTANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 Legislature, Subcommittee on the Western Hemisphere, Committee on what are timeshares Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )administering. Mr. Duncan. Okay. A quorum existing, the subcommittee will Check over here come to order.
I would now like to recognize myself for an opening statement. Thank you, guys, for your patience. Today, we require to highlight an extremely important region in our hemisphere that unfortunately frequently gets overlooked. A lot of our Caribbean good friends have consistently advised the United States to pay more attention to the Caribbean, and I want you to understand that I have heard you. I would likewise like to thank Ranking Member Sires in specific for his leadership in working to prioritize this subcommittee's concentrate on the Caribbean. Nevertheless, while these are definitely important strengths for the area, the Caribbean has far more to provide which U.S. companies, universities, and local.
communities should consider when preparing future financial investment, scholastic research, or where to develop stronger economic ties. One of the primary tools wesley financial group phone number of U.S. engagement with CARICOM nations is the Caribbean Basin Effort, 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 created in 1983 and has consequently expanded to provide 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 previous ten years, and last year the overall trade relationship between the U.S.
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and the Caribbean was $33. 4 billion. I believe it is critical to work 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 success that is sustainable for the area. What was the reconstruction finance corporation. In addition, I am a firm supporter of deeper U.S.-Caribbean energy relations. To me it is a win-win circumstance. U.S. has an abundance of oil, natural gas, and technical know-how, and the Caribbean has some of the greatest energy expenses worldwide and needs to reduce these costs by building facilities for providing energy, incorporating energy markets to bring in investment and funding, and establish pipelines and liquified gas frameworks. After all, the United States is the largest energy producer in the Western Hemisphere; jointly with Mexico and Canada, The United States and Canada represents 71 percent of the hemisphere.
's petroleum and 28 percent of natural gas 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 nations in this hemisphere need to be working more carefully together to pursue hemisphere-acquired, energy self-reliance which indicates helping non-energy producing countries 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 transforming our societies and security and independence and our economic development. and CARICOM. However, I stay worried about the growing security obstacles in the area from transnational criminal organizations that look for to utilize the area to deliver drugs, migrants, and contraband to United States shores. The Caribbean Basin.
Security Effort is another tool the United States has used considering that 2010 to resolve local security concerns, and given the Caribbean's strategic location to U.S. homeland, we need to keep considering ways to enhance CBSI and more successfully cooperate with the local partners to manage borders, block criminal groups 'ability to exploit permissive environments to their advantage. I am also concerned about individuals from the Caribbean that have signed up with Islamic extremist organizations. Southern Command, General Kelly, affirmed before Congress that near 100 individuals had left the Caribbean to go fight in Syria. At a subsequent rundown, he specifically called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battlefield. These risks to the United States and local security must inspire everyone; give us all a higher determination to do more to reinforce security cooperation. Furthermore, I want to mention at a previous subcommittee hearing on border security hazards in the region, I raised concerns concerning 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.