The de-risking of the reporter banking relationships are extremely essential to the Caribbean since international monetary banks have actually been critical not only to domestic economy however in its link to the international economy. Some services have actually currently been choked off and there need to be a way for us to discover an initiative that combines the security goals which we sign up for, and also at the same time, enable financial intermediation such as trade financing, transfers of profits, financial obligation payments, et cetera, to continue. Third, security. The small states of the Caribbean find it extremely tough to compete with transnational criminal activity connected to narcotics trafficking, international terrorism, cybersecurity, et cetera.

has done an outstanding task in supporting these nations, however I think there is room to do more in the interest of our mutual security. Security nowadays can just be specified as worldwide and can just be reacted to by cooperation amongst countries. Furthermore, in the trade location there are some good legislation in location for trade. However, a number of the Caribbean countries are now service oriented countries and we require to examine possibilities for promoting mutual and helpful value chains which integrate U.S. and Caribbean in services such as health care, education, and back workplace assistance. I think by integrating the skills on Capitol Hill with a few of the personnels in the Caribbean, these firms can stay competitive both here and in the U.S - What happened to household finance corporation.

The Caribbean nations are coastal societies. Facilities, economic activity, population, the structure environment are all focused on a narrow strip on the coast, even for those nations which are not islands, for instance, Belize and Guyana. It means that they are amongst the most susceptible nations to climate modification. More resources need to be made readily available in a more accessible method to alleviate climate modification and to assist these nations in enduring. And I point especially to the tourist industry which is seriously depending on the quality of that instant seaside strip. Finally, energy (How many years can you finance a boat). 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 electrical power which is amongst the highest expense worldwide onto energy in less pricey sources. That would serve to restore a whole series of economic activity, consisting of manufacturing. What is a cd in finance. And I conclude, Mr. Chairman, by saying that all of these are interrelated elements that require to be attended to. If we could resolve them in one overall initiative led by the U.S. and including the advancement of banks, I believe that they reinforce each other and it is time for a new strong initiative in U.S. policy toward the Caribbean.

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[The prepared statement of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you a lot for making the effort to be here. Mr. Meeks has actually agreed we are going to skip over him and go to the previous chairman of the full committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so really much and I ask forgiveness for coming late. And we have another hearing which I am chairing on Syria, however thank Take a look at the site here you, Chairman Duncan and Ranking Member Sires, for holding this important hearing. And I do not believe that we can discuss U.S.

Venezuela established Petrocaribe in 2005 to assist affect numerous nations in the hemisphere and up to this point the method has worked. However, now we see the collapse of the Venezuelan economy since of the incompetence of the Maduro regime. So it provides 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 very focused on this effort today due to the fact that it remains in our national security interest to coordinate an energy option; a technique so that less countries in the Western Hemisphere would depend on a very 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 plentiful and inexpensive natural gas and the brand-new innovative clean wind and solar innovations readily available. In this manner we enhance our partners' economies, we buffer the region from the impacts of Venezuelan collapse and take sensible steps towards minimizing carbon emissions. So the crisis in Venezuela may cause an oil supply disturbance. What effect would such a disruption have on the Caribbean nations? Mr. Bernal. My associates are figured out to make sure I carry a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complex one. Venezuela started the Petrocaribe at a time when numerous Caribbean countries were really extremely extended economically and truly needed some help. Nevertheless, the relationship has its intricacies. For instance, Venezuela declares an extremely big share of Guyana which is wesley financial group franklin tn a member of the CARICOM group. It also has extended its claims in terms of coastal waters based upon an island almost 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean taking advantage of some financial backing. I believe we are at a point where the relationship is going to become really unpredictable because of nobody knows exactly what will occur in the Caribbean with Venezuela.

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Several Caribbean nations are thinking beyond Petrocaribe because they don't presume that it will continue in its present kind and they need to be believing of options. This creates a point in which new efforts, consisting of from the U.S - How many years can you finance a boat. in energy, would be extremely welcome in the region. Ms. Ros-Lehtinen. Thank you really much, 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 great to see all of you who, you understand, we trust quite with your expertise and since the Caribbean is very essential, I think.

It is really, you know when you look at our hemisphere and we have actually got to make certain that we enhance and collaborating. And I hear my associates in regards to particularly Petrocaribe, but I believe that the issues that are facing a great deal of the islands-- and I notice, for example, Mr. Ambassador, you listed as number six in order of concern the energy crisis, et cetera, in attempting to make sure. So I wish to search for out as it refers to the islands themselves the rent out your timeshare important things that are most pushing with them that would assist them total with their economy, since I know, for instance, you can't simply depend upon tourist or you can't just rely on, you understand, they have the diversity of it requires to be there.