[House Hearing, 114 Congress] [From the U - How to finance a house flip.S. Government Publishing Office] THE STRATEGIC VALUE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS HOME 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 READILY AVAILABLE IN TIFF FORMAT] Available via the Web: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. GOVERNMENT PUBLISHING OFFICE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Documents, U.S. Government Publishing Workplace Internet: bookstore.

ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York City ILEANA ROS-LEHTINEN, Florida BRAD SHERMAN, California DANA ROHRABACHER, California GREGORY W. MEEKS, New York City 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 City 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. What is a consumer finance company. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York DANIEL DONOVAN, New York Amy Porter, Chief of Staff Thomas Sheehy, Staff Director Jason Steinbaum, Democratic Personnel 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 RON De, SANTIS, Florida ALAN GRAYSON, Florida TED S.

LOWENTHAL, California DANIEL DONOVAN, New York City 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 wesley financial group franklin tn for worldwide 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 notification ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE STRATEGIC VALUE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN COLLABORATION ---------- THURSDAY, JULY 14, 2016 Legislature, Subcommittee on the Western Hemisphere, Committee on Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )presiding. Mr. Duncan. Okay. A quorum being present, the subcommittee will concern order.

I would now like to recognize myself for an opening declaration. Thank you, men, for your patience. Today, we need to highlight a really essential area in our hemisphere that unfortunately often gets ignored. Many of our Caribbean friends have consistently advised the United States to pay more attention to the Caribbean, and I want what happens when a timeshare is foreclosed on you you to understand that I have actually heard you. I would also like to thank Ranking Member Sires in particular for his leadership in working to prioritize this subcommittee's concentrate on the Caribbean. Nevertheless, while these are definitely important strengths for the region, the Caribbean has much more to provide which U.S. businesses, universities, and local.

communities should think about when preparing future investment, scholastic research study, or where to establish more powerful economic ties. One of the main tools of U.S. engagement with CARICOM countries is the Caribbean Basin Effort, or CBI, which was produced in 1983. Can we turn that noise down a little bit, sir? Can we turn that down simply a bit? Okay. Which was produced in 1983 and has actually subsequently expanded to provide 17 nations and reliant territories with duty-free access to U.S. This engagement has resulted in a 44-percent increase in U.S. exports to the Caribbean over the past ten years, and last year the overall trade relationship in between the U.S.

Fascination About What Was The Reconstruction Finance Corporation

and the Caribbean was $33. 4 billion. I think it is vital to work with our next-door neighbors to mutually promote economic development through trade liberalization, regard for the guideline of law, and adherence to free enterprise principles in order to accomplish prosperity that is sustainable for the region. What happened to floating weeks timeshare household finance corporation. In addition, I am a firm supporter of much deeper U.S.-Caribbean energy relations. To me it is a great deal. U.S. has an abundance of oil, gas, and technical proficiency, and the Caribbean has some of the highest energy expenses worldwide and needs to lower these expenses by building infrastructure for delivering energy, integrating energy markets to attract financial investment and funding, and develop pipelines and liquified gas frameworks. After all, the United States is the biggest energy producer in the Western Hemisphere; jointly with Mexico and Canada, North America represents 71 percent of the hemisphere.

's petroleum and 28 percent of gas reserves in the hemisphere. Likewise, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have substantial oil and natural gas production. In my view, freedom-loving, market-friendly, energy-producing countries in this hemisphere need to be working more carefully together to pursue hemisphere-acquired, energy independence which means helping non-energy producing countries including the Caribbean next-door neighbors in reaching this goal. Ultimately, if the Western Hemisphere were more energy independent it would go a long way to changing our societies and security and independence and our economic growth. and CARICOM. However, I stay concerned about the growing security challenges in the area from global criminal organizations that seek to utilize the area to ship drugs, migrants, and contraband to United States shores. The Caribbean Basin.

Security Initiative is another tool the United States has utilized since 2010 to attend to local security issues, and offered the Caribbean's tactical place to U.S. homeland, we require to keep considering methods to enhance CBSI and better comply with the local partners to manage borders, obstruct criminal groups 'capability to exploit permissive environments to their benefit. I am likewise concerned about the individuals from the Caribbean that have actually signed up with Islamic extremist companies. Southern Command, General Kelly, testified before Congress that near 100 individuals had actually left the Caribbean to go fight in Syria. At a subsequent briefing, he particularly called Jamaica, Siriname, and Trinidad and Tobago as having had individuals leave for the battlefield. These dangers to the United States and local security should motivate everyone; give us all a greater determination to do more to strengthen security cooperation. Moreover, I desire to point out at a previous subcommittee hearing on border security threats in the area, I raised issues concerning reports that I had seen about person by investment programs in the Caribbean which have actually allowed fraud, corruption, and exploitation by foreign nationals.