The de-risking of the reporter banking relationships are very essential to the Caribbean due to the fact that worldwide monetary banks have been crucial not just to domestic economy but in its link to the international economy. Some services have currently been choked off and there should be a method for us to find an initiative that combines the security goals which we subscribe to, and also at the very same time, allow monetary intermediation such as trade financing, transfers of earnings, financial obligation payments, et cetera, to continue. Thirdly, security. The little states of the Caribbean find it really difficult to compete with global criminal offense linked to narcotics trafficking, international terrorism, cybersecurity, et cetera.
has done an exceptional job in supporting these countries, however I believe there is space to do more in the interest of our mutual security. Security these days can just be specified as global and can only be reacted to by cooperation among nations. Fourthly, 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 analyze possibilities for promoting shared and useful worth chains which combine U.S. and Caribbean in services such as healthcare, education, and back office assistance. I believe by integrating the skills on selling timeshare property Capitol Hill with some of the personnels in the Caribbean, these companies can stay competitive both here and in the U.S - The trend in campaign finance law over time has been toward which the following?.
The Caribbean countries are seaside societies. Infrastructure, financial activity, population, the structure environment are all focused on a narrow strip on the coast, even for those countries which are not islands, for instance, Belize and Guyana. It indicates that they are among the most vulnerable nations to environment change. More resources need to be made available in a more accessible method to reduce environment modification and to assist these countries in making it through. And I point especially to the traveler market which is seriously dependent on the quality of that immediate seaside strip. Lastly, energy (What does ltm mean in finance). 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 electricity which is amongst the greatest cost on the planet onto energy in less costly sources. That would serve to revive a whole series of economic activity, consisting of production. Which results are more likely for someone without personal finance skills? Check all that apply.. And I conclude, Mr. Chairman, by saying that all of these are interrelated aspects that need to be addressed. If we might resolve them in one general initiative led by the U.S. and involving the advancement of financial institutions, I believe that they reinforce each other and it is time for a new strong initiative in U.S. policy towards the Caribbean.
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[The prepared declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has actually concurred we are going to skip over him and go to the former chairman of the full committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so quite and I say sorry for 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 essential hearing. And I do not think that we can discuss U.S.
Venezuela developed Petrocaribe in 2005 to help influence many nations in the hemisphere and as much as this point the method has worked. Nevertheless, now we see the collapse of the Venezuelan economy because of the incompetence of the Maduro routine. So it provides the U.S. an opportunity to fill that void, and this is where we require the State Department and the Department of Energy to be very concentrated on this effort right now due to the fact that it remains in our national security interest to coordinate an energy option; a method so that less countries in the Western Hemisphere would be dependent on a really unreliable Venezuela.
And I believe that we have got to be dealing with our partners, our allies in the Caribbean to help them benefit from the plentiful and cheap gas and the brand-new advanced tidy wind and solar innovations offered. In this manner we enhance our partners' economies, we buffer the area from the effects of Venezuelan collapse and take reasonable actions toward lowering carbon emissions. So the crisis how much does it cost a timeshare a month? in Venezuela may trigger an oil supply disturbance. What effect would such an interruption have on the Caribbean countries? Mr. Bernal. My associates are identified 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 countries were actually very stretched economically and really needed some help. Nevertheless, the relationship has its complexities. For example, Venezuela claims a huge share of Guyana which belongs to the CARICOM group. It likewise has actually extended its claims in regards to coastal waters based on an island practically 400 miles away from Venezuela and mainland, so that the relationship is not all the Caribbean gaining from some financial backing. I think we are at a point where the relationship is going to become extremely unforeseeable due to the fact that of no one knows precisely what will happen in the Caribbean with Venezuela.
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Numerous Caribbean countries are believing beyond Petrocaribe due to the fact that they do not assume that it will continue in its present form and they need to be believing of alternatives. This develops a juncture in which new efforts, including from the U.S - What does etf stand for in finance. 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 good to see all of you who, you understand, we rely upon extremely much with your competence and due to the fact that the Caribbean is exceptionally essential, I believe.
It is truly, you know when you take a look at our hemisphere and we have got to make sure that we enhance and working together. And I hear my coworkers in regards to particularly Petrocaribe, but I believe that the issues that are challenging a great deal of the islands-- and I see, for instance, Mr. Ambassador, you listed as number six in order of concern the energy crisis, et cetera, in trying to make sure. So I want to search for out as it refers to the islands themselves the things that are most pressing with them that would help them overall with their economy, due to the fact that I understand, for instance, you can't simply rely on tourism or you can't just depend upon, you know, they have the diversity of it needs to be there.