The de-risking of the reporter banking relationships are very crucial to the Caribbean due to the fact that global monetary banks have been crucial not only to domestic economy however in its link to the global economy. Some services have actually already been choked off and there must be a way for us to discover an initiative that integrates the security goals which we register for, and also at the very same time, allow financial intermediation such as trade funding, transfers of earnings, debt payments, et cetera, to continue. Thirdly, security. The little states of the Caribbean find it extremely hard to compete with multinational criminal offense linked to narcotics trafficking, global terrorism, cybersecurity, et cetera.
has done https://www.thewowstyle.com/a-homebuyers-guide-to-finding-a-resourceful-real-estate-agent/ an exceptional job in supporting these countries, however I think there is room to do more in the interest of our mutual security. Security nowadays can only be defined as international and can just be reacted to by cooperation among countries. Fourthly, in the trade location there are some good legislation in location for trade. Nevertheless, a number of the Caribbean countries are now service oriented countries and we require to examine possibilities for promoting mutual and helpful worth chains which integrate U.S. and Caribbean in services such as health care, education, and back workplace support. I think by combining the skills on Capitol Hill with some of the personnels in the Caribbean, these companies can stay competitive both here and in the U.S - What happened to household finance corporation.
The Caribbean nations 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, for example, Belize and Guyana. It indicates that they are among the most vulnerable countries to environment change. More resources need to be offered in a more accessible way to alleviate environment modification and to help these nations in surviving. And I point especially to the traveler market which is critically reliant on the quality of that immediate seaside strip. Finally, energy (What is a finance charge on a credit card). 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 among the highest cost worldwide onto energy in more economical sources. That would serve to restore a whole variety of economic activity, consisting of production. How to finance a home addition. And I conclude, Mr. Chairman, by stating that all of these are interrelated elements that require to be addressed. If we might address them in one total effort led by the U.S. and including the development of monetary organizations, I believe that they reinforce each other and it is time for a new bold effort in U.S. policy towards the Caribbean.
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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT OFFERED IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you a lot for making the effort to be here. Mr. Meeks has 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 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 crucial hearing. And I don't think that we can discuss U.S.
Venezuela established Petrocaribe in 2005 to assist affect numerous countries in the hemisphere and approximately this point the technique 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 void, and this is where we need the State Department and the Department of Energy to be very concentrated on this effort today due to the fact that it is in our national security interest to coordinate an energy solution; a technique so that less nations in the Western Hemisphere would be reliant on a very unreliable Venezuela.
And I think that we have actually got to be working with our partners, our allies in the Caribbean to assist them benefit from the abundant and inexpensive gas and the brand-new sophisticated tidy wind and solar innovations offered. By doing this we strengthen 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 trigger an oil supply disturbance. What effect would such a disruption have on the Caribbean countries? Mr. Bernal. My colleagues are determined to ensure I carry a fair 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 nations were truly very stretched economically and really required some support. Nevertheless, the relationship has its complexities. For instance, Venezuela declares a huge share of Guyana which is a member of the CARICOM group. It also has extended its claims in terms of seaside waters based upon an island almost 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean gaining from some financial backing. I believe we are at a juncture where the relationship is going to become really unpredictable due to the fact that of nobody knows precisely what will happen in the Caribbean with Venezuela.
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Several Caribbean countries are believing beyond Petrocaribe since they don't presume that it will continue in its present kind and they have to be thinking of options. This develops a point in which brand-new efforts, including from the U.S - Which of the following approaches is most suitable for auditing the finance and investment cycle?. in https://easylivingmom.com/should-you-use-a-real-estate-agent/ energy, would be extremely welcome in the area. Ms. Ros-Lehtinen. Thank you extremely much, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for taking time to run down here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and excellent to see all of you who, you know, we trust quite with your competence and because the Caribbean is exceptionally essential, I think.
It is actually, you know when you take a look at our hemisphere and we have got to ensure that we strengthen and interacting. And I hear my associates in regards to specifically Petrocaribe, but I believe that the problems that are facing a lot of the islands-- and I see, for instance, Mr. Ambassador, you listed as number 6 in order of priority the energy crisis, et cetera, in trying to make certain. So I wish to search for out as it relates to the islands themselves the important things that are most pressing with them that would assist them overall with their economy, since I understand, for instance, you can't just depend upon tourism or you can't just depend upon, you know, they have the diversification of it needs to be there.