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The de-risking of the correspondent banking relationships are very crucial to the Caribbean since international financial banks have actually been critical not only to domestic economy however in its link to the worldwide economy. Some services have actually currently been choked off and there should be a method for us to find an initiative that combines the security objectives which we sign up for, and likewise at the exact same time, allow 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 really tough to contend with multinational crime connected to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.

has actually done an outstanding job in supporting these nations, however I believe there is space to do more in the interest of our shared security. Security these days can only be specified as international and can just be responded to by cooperation amongst countries. Fourthly, in the trade location there are some excellent legislation in place for trade. Nevertheless, numerous of the Caribbean nations are now service oriented countries and we require to examine possibilities for promoting shared and useful value chains which combine U.S. and Caribbean in services such as health care, education, and back workplace assistance. I believe by integrating the abilities on Capitol Hill with some of the personnels in the Caribbean, these firms can remain competitive both here and in the U.S – Which of the following can be described as involving direct finance.

The Caribbean how much does it cost to buy a timeshare nations are coastal societies. Facilities, 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 means that they are amongst the most vulnerable nations to climate change. More resources require to be provided in a more available method to alleviate climate change and to help these countries in making it through. And I point particularly to the tourist market which is critically depending on the quality of that immediate coastal strip. Finally, energy (How to finance an engagement ring). The Caribbean, bar the exceptions of Trinidad and Tobago, depend greatly on importation of energy.

Solar, wind, and thermal all have possibilities, and to move the production of electrical energy which is among the greatest expense in the world onto energy in cheaper sources. That would serve to restore a whole variety of financial activity, consisting of manufacturing. How to finance an engagement ring. And I conclude, Mr. Chairman, by stating that all of these are interrelated elements that require to be resolved. If we could resolve them in one total initiative led by the U.S. and involving the development of financial organizations, I think that they strengthen each other and it is time for a new vibrant effort 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 quite and I excuse coming late. And we have another hearing which I am chairing on Syria, however thank you, Chairman Duncan and Ranking Member Sires, for holding this important hearing. And I don't believe that we can talk about U.S.

Venezuela developed Petrocaribe in 2005 to assist affect lots of nations in the hemisphere and approximately this point the technique has worked. However, now we see the collapse of the Venezuelan economy due to the fact that of the incompetence of the Maduro routine. So it gives the U.S. an opportunity to fill that space, and this is where we need the State Department and the Department of Energy to be exceptionally concentrated on this effort today because it remains in our nationwide security interest to collaborate an energy option; a strategy so that less nations in the Western Hemisphere would depend on an extremely undependable Venezuela.

And I believe that we have actually got to be dealing with our partners, our allies in the Caribbean to help them benefit from the abundant and cheap gas and the brand-new advanced clean wind and solar technologies offered. In this manner we strengthen our partners' economies, we buffer the region from the effects of Venezuelan collapse and take realistic actions towards decreasing carbon emissions. So the crisis in Venezuela might trigger an oil supply disturbance. What effect would such a disturbance have on the Caribbean countries? Mr. Bernal. My coworkers are identified to make sure I bring a fair share of the load.

Thank you for that. The relationship with Venezuela is a long and complex one. Venezuela initiated the Petrocaribe at a time when lots of Caribbean countries were truly extremely stretched economically and actually required some support. Nevertheless, the relationship has its intricacies. For example, Venezuela claims a very big share of Guyana which belongs to the CARICOM group. It also has extended its claims in terms of coastal waters based upon an island almost 400 miles away from Venezuela and mainland, so that the relationship is not all the Caribbean taking advantage of some financial backing. I think we are at a point where the relationship is going to become really unforeseeable due to the fact that of nobody understands precisely what will take place in the Caribbean with Venezuela.

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Numerous Caribbean countries are believing beyond Petrocaribe since they don't assume that it will continue in its present type and they have to be thinking about options. This develops a juncture in which new initiatives, including from the U.S – What happened to household finance corporation. in energy, would be very 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 requiring 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 great to see all of you who, you know, we rely upon extremely much with your know-how and because the Caribbean is very crucial, I think.

It is truly, you understand when you look at our hemisphere and we have got to make certain that we enhance and collaborating. And I hear my colleagues in concerns to specifically Petrocaribe, however I think that the problems that are confronting 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 attempting to make certain. 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 total with their economy, because I understand, for instance, you can't simply rely on tourism or you can't timeshare help simply rely on, you understand, they have the diversification of it needs to be there.