The de-risking of the reporter timeshare maintenance fee calculator banking relationships are very essential to the Caribbean due to the fact that global monetary banks have been important not only to domestic economy but in its link to the global economy. Some services have actually already been choked off and there should be a method for us to find an effort that combines the security goals which we sign up for, and likewise at the very same time, allow monetary intermediation such as trade financing, transfers of profits, debt payments, et cetera, to continue. Third, security. The little states of the Caribbean discover it very tough to contend with global criminal activity linked to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.
has done an exceptional task in supporting these countries, however I believe there is room to do more in the interest of our mutual security. Security nowadays can just be specified as international and can just be responded to by cooperation among countries. Fourthly, in the trade location there are some good legislation in location for trade. Nevertheless, a lot of the Caribbean countries are now service oriented nations and we require to take a look at 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 think by integrating the skills on Capitol Hill with a few of the human resources in the Caribbean, these companies can remain competitive both here and in the U.S - Which of the following can be described as involving direct finance.
The Caribbean countries are seaside societies. Infrastructure, economic activity, population, the building environment are all concentrated on a narrow strip on the coast, even for those countries which are not islands, for example, Belize and Guyana. It means that they are among the most susceptible nations to environment modification. More resources need to be made available in a more available method to mitigate climate change and to assist these countries in enduring. And I point especially to the traveler market which is seriously based on the quality of that instant coastal strip. Finally, energy (What do you need to finance a car). 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 among the highest expense on the planet onto energy in less costly sources. That would serve to revive an entire series of financial activity, including manufacturing. What is a note in finance. And I conclude, Mr. Chairman, by saying that all of these are interrelated elements that require to be addressed. If we could address them in one total effort led by the U.S. and involving the advancement of financial organizations, I think that they strengthen each other and it is time for a new strong initiative in U.S. policy towards the Caribbean.
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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT OFFERED IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much 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 really much and I say sorry for 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 essential hearing. And I do not think that we can discuss U.S.
Venezuela established Petrocaribe in 2005 to assist influence lots of nations in robin mcvey the hemisphere and approximately this point the technique has worked. However, now we see the collapse of the Venezuelan economy since of the incompetence of the Maduro regime. So it gives the U.S. a chance to fill that void, and this is where we need the State Department and the Department of Energy to be incredibly concentrated on this effort today due to the fact that it is in our national security interest to coordinate an energy solution; a technique so that less countries in the Western Hemisphere would be dependent on a very undependable Venezuela.
And I believe that we have got to be dealing with our partners, our allies in the Caribbean to assist them make the most of the plentiful and low-cost natural gas and the brand-new advanced clean wind and solar innovations readily available. This way we strengthen our partners' economies, we buffer the region from the effects of Venezuelan collapse and take realistic actions toward minimizing carbon emissions. So the crisis in Venezuela might trigger an oil supply disturbance. What impact would such a disturbance have on the Caribbean nations? Mr. Bernal. My associates 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 numerous Caribbean countries were really very extended economically and really needed some support. However, the relationship has its intricacies. For example, Venezuela claims an extremely big share of Guyana which belongs to the CARICOM group. It also has extended its claims in terms of seaside waters based upon an island practically 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 extremely unforeseeable because of no one knows precisely what will happen in the Caribbean with Venezuela.
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Numerous Caribbean countries are thinking beyond Petrocaribe since they don't presume that it will continue in its present form and they need to be considering options. This develops a point in which new efforts, consisting of from the U.S - What is a consumer finance company. in energy, would be very welcome in the area. Ms. Ros-Lehtinen. Thank you really much, 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 very much with your proficiency and because the Caribbean is exceptionally important, I believe.
It is truly, you know when you take a look at our hemisphere and we have got to ensure that we reinforce and interacting. And I hear my colleagues in concerns to especially Petrocaribe, however I think that the problems that are challenging a great deal of the islands-- and I notice, for instance, Mr. Ambassador, you listed as number six in order of top priority the energy crisis, et cetera, in trying to ensure. So I want to look for out as it refers to the islands themselves the things that are most pushing with them that would help them general with their economy, due to the fact that I understand, for example, you can't simply depend upon tourism or you can't just rely on, you understand, they have the diversity of it requires to be there.