The de-risking of the reporter banking relationships are really crucial to the Caribbean due to the fact that global financial banks have actually been crucial not only to domestic economy however in its link to the worldwide economy. Some services have actually already been choked off and there need to be a method for us to discover an initiative that combines the security objectives which we register for, and likewise at the very same time, enable monetary intermediation such as trade funding, transfers of profits, debt payments, et cetera, to continue. Finally, security. The small states of the Caribbean find it extremely tough to compete with multinational criminal activity linked to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.
has done an exceptional task in supporting these countries, but I think there is room to do more in the interest of our mutual security. Security these days can just be defined as worldwide and can only be reacted to by cooperation among nations. Fourthly, in the trade location there are some great legislation in location for trade. Nevertheless, a number of the Caribbean nations are now service oriented nations and we require to examine possibilities for promoting shared and helpful worth chains which integrate U.S. and Caribbean in services such as healthcare, education, and back office support. I believe by integrating the abilities on Capitol Hill with a few of the human resources in the Caribbean, these firms can stay competitive both here and in the U.S - What does ear stand for in finance.
The Caribbean countries are seaside societies. Infrastructure, financial activity, population, the building environment are all concentrated on a narrow strip on the coast, even for those nations which are not islands, for example, Belize and Guyana. It suggests that they are amongst the most vulnerable countries to environment change. More resources need to be offered in a more available way to mitigate climate change and to help these nations in enduring. And I point especially to the tourist market which is seriously dependent on the quality of that immediate coastal strip. Finally, energy (Which of the following was eliminated as a result of 2002 campaign finance reforms?). The Caribbean, bar the exceptions of Trinidad and Tobago, depend heavily on importation of energy.
Solar, wind, and thermal all have possibilities, and to shift the production of electricity which is among the highest cost in the world onto energy in less pricey sources. That would serve to restore an https://www.residencestyle.com/how-can-you-explore-the-beauty-of-the-beach-and-ocean-in-real-estate/ entire series of economic activity, consisting of manufacturing. Which one of the following occupations best fits into the corporate area of finance?. And I conclude, Mr. Chairman, by saying that all of these are interrelated aspects that need to be dealt with. If we might resolve them in one general initiative led by the U.S. and including the development of financial institutions, I believe that they enhance each other and it is time for a new strong initiative in U.S. policy toward 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 agreed we are going to skip over him and go to the previous 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 don't think that we can go over U.S.
Venezuela established Petrocaribe in 2005 to help affect numerous nations in the hemisphere and as much as this point the strategy has worked. Nevertheless, now we see the collapse of the Venezuelan economy since of the incompetence of the Maduro program. So it offers the U.S. an opportunity to fill that void, and this is where we need the State Department and the Department of Energy to be exceptionally focused on this effort today due to the fact that it is in our national security interest to collaborate an energy option; https://www.businessmodulehub.com/blog/4-things-to-know-before-buying-your-first-real-estate-property/ a strategy so that fewer nations in the Western Hemisphere would depend on a very undependable Venezuela.
And I think that we have got to be working with our partners, our allies in the Caribbean to assist them benefit from the plentiful and inexpensive gas and the brand-new sophisticated clean wind and solar technologies readily available. In this manner we enhance our partners' economies, we buffer the area from the effects of Venezuelan collapse and take practical steps towards decreasing carbon emissions. So the crisis in Venezuela may trigger an oil supply interruption. What effect would such an interruption have on the Caribbean nations? Mr. Bernal. My colleagues are figured out to make sure I bring a fair share of the load.
Thank you for that. The relationship with Venezuela is a long and complicated one. Venezuela initiated the Petrocaribe at a time when numerous Caribbean nations were really extremely stretched economically and actually required some help. Nevertheless, the relationship has its complexities. For example, Venezuela claims a large share of Guyana which is a member of the CARICOM group. It also has extended its claims in terms of seaside waters based on an island almost 400 miles away 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 extremely unpredictable due to the fact that of nobody understands exactly what will happen in the Caribbean with Venezuela.
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A number of Caribbean nations are believing beyond Petrocaribe because they do not presume that it will continue in its present form and they need to be believing of alternatives. This produces a juncture in which new initiatives, consisting of from the U.S - How to finance a car from a private seller. in energy, would be very welcome in the area. Ms. Ros-Lehtinen. Thank you quite, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for requiring 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 very much with your know-how and because the Caribbean is exceptionally essential, I think.
It is really, you know when you take a look at our hemisphere and we have got to ensure that we strengthen and working together. And I hear my coworkers in concerns to especially Petrocaribe, however I think that the issues that are challenging a lot of the islands-- and I observe, for example, Mr. Ambassador, you noted as number six in order of concern the energy crisis, et cetera, in attempting to ensure. So I wish to attempt to find out as it refers to the islands themselves the important things that are most pressing with them that would help them total with their economy, because I understand, for instance, you can't just depend upon tourist or you can't simply rely on, you know, they have the diversification of it needs to be there.