The de-risking of the reporter banking relationships are very crucial to the Caribbean due to the fact that worldwide financial banks have been crucial not only to domestic economy but in its link to the worldwide economy. Some services have actually already been choked off and there should be a way for us to discover an effort that combines the security objectives which we sign up for, and likewise at the exact same time, allow monetary intermediation such as trade financing, transfers of profits, financial obligation payments, et cetera, to continue. Third, security. The little states of the Caribbean discover it really difficult to contend with global criminal activity connected to narcotics trafficking, global terrorism, cybersecurity, et cetera.
has actually done an impressive job in supporting these countries, however I believe there is room to do more in the interest of our mutual security. Security these days can only be specified as worldwide and can just be reacted to by cooperation amongst nations. Furthermore, in the trade area there are some good legislation in place for trade. Nevertheless, a number of the Caribbean countries are now service oriented nations and we need to analyze possibilities for promoting shared and advantageous value chains which integrate U.S. and Caribbean in services such as healthcare, education, and back workplace assistance. I believe by integrating the skills on Capitol Hill with some of the personnels in the Caribbean, these companies can remain competitive both here and in the U.S - How long can you finance a used car.
The Caribbean nations are seaside societies. Infrastructure, financial activity, population, the structure 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 implies that they are amongst the most susceptible countries to climate modification. More resources require to be offered in a more available method to alleviate environment change and to help these nations in surviving. And I point especially to the traveler industry which is seriously based on the quality of that instant seaside strip. ethan wfg Finally, energy (Which one of the following occupations best fits into the corporate area of 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 cheaper sources. That would serve to revive a whole variety of economic activity, including production. How old of a car will a bank finance. And I conclude, Mr. Chairman, by saying that all of these are interrelated aspects that need to be addressed. If we could resolve them in one general effort led by the U.S. and involving the advancement of banks, I believe that they reinforce each other and it is time for a new bold effort in U.S. policy toward the Caribbean.
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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has concurred 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 quite 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 think that we can go over U.S.
Venezuela established Petrocaribe in 2005 to assist affect numerous countries in the hemisphere and up to this point the strategy has actually worked. Nevertheless, now we see the collapse of the Venezuelan economy because of the incompetence of the Maduro program. So it provides the U.S. a chance to fill that space, and this is where we require 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 nationwide security interest to collaborate an energy solution; a strategy so that fewer nations in the Western Hemisphere would depend on a very undependable Venezuela.
And I believe that we have got to be dealing with our partners, our allies in the Caribbean to help them make the most of the plentiful and inexpensive natural gas and the brand-new advanced tidy wind and solar innovations https://rafaelataw864.weebly.com/blog/facts-about-how-long-can-you-finance-a-used-rv-revealed readily available. In this manner we reinforce our partners' economies, we buffer the region from the impacts of Venezuelan collapse and take sensible actions towards lowering carbon emissions. So the crisis in Venezuela might cause an oil supply disturbance. What impact would such a disturbance have on the Caribbean nations? Mr. Bernal. My associates are determined to ensure I carry a fair share of the load.
Thank you for that. The relationship Check over here with Venezuela is a long and complex one. Venezuela initiated the Petrocaribe at a time when numerous Caribbean countries were actually extremely stretched financially and actually needed some help. However, the relationship has its intricacies. For example, Venezuela claims a large share of Guyana which is a member of 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 taking advantage of some monetary support. I believe we are at a point where the relationship is going to become really unpredictable because of nobody understands exactly what will occur in the Caribbean with Venezuela.
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Several Caribbean nations are thinking beyond Petrocaribe because they do not presume that it will continue in its present type and they have to be thinking about alternatives. This creates a juncture in which brand-new initiatives, consisting of from the U.S - How to finance an engagement ring. in energy, would be really 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 some 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 great to see all of you who, you understand, we trust quite with your know-how and due to the fact that the Caribbean is exceptionally essential, I believe.
It is truly, you understand when you take a look at our hemisphere and we have actually got to make sure that we strengthen and working together. And I hear my associates in regards to specifically Petrocaribe, but I think that the problems that are facing a lot of the islands-- and I discover, for instance, Mr. Ambassador, you noted as number 6 in order of top priority the energy crisis, et cetera, in trying to make certain. So I want to look for out as it pertains to the islands themselves the things that are most pushing with them that would help them general with their economy, since I know, for instance, you can't simply depend upon tourism or you can't simply rely on, you understand, they have the diversification of it requires to be there.