I recognize your assistance and friendship, and I applaud your guts of conviction to speak the fact to power even when it is hard. These nations that picked to abstain from voting or voted versus the resolution at the OAS concerning the circumstance in Venezuela, I want you to understand that your choice only enhances oppression and tyranny in the Americas.
It is my.
hope that you will reevaluate how your vote on these type of issues in the future. Ultimately, all of us have an obligation to actively secure flexibility in the Americas, but that can only require extremely tough options. Mr. Sires. Thank you, Mr. Chairman, for interacting on this hearing, and I want to thank the witnesses for being here today. Thank you quite. The Caribbean is often referred to as America's third border and I concur with this description. With practically 45 million people encompassing 16 independent nations and 14 abroad territories, the Caribbean is a diverse region that consists of some of the hemisphere's richest.
and poorest nations. It is an area of excellent financial and cultural, political and security ties to the United States. The U.S.-Caribbean relationship is defined by extensive economic linkages, considerable security cooperation, and continued U.S. Over the previous 3 years, the administration has actually presented a brand-new effort supporting energy diversification and tidy, sustainable energy tasks to enhance the area's energy security and to assist it move away from its dependence on oil from Venezuela. Venezuela, which has long subsidized energy expenses to many Latin American and Caribbean nations, need to turn inward to save itself from economic and political collapse. In the middle of these unpleasant times we must work.
with our Caribbean partners to diversify energy sources, strengthen their economies, and build on a shared security interest. On the legal front, last month the House approved H (What happened to household finance corporation).R. Trade credit may be used to finance a major part of a firm's working capital when. This act is developed to increase engagement with the Caribbean that requires the Secretary of State to send a multiyear strategy to Congress for U.S. engagement with the Caribbean areas and upgrade on its U.S. diplomatic effort to engage the eastern Caribbean nations. As a global power, the United States deals with challenges and dangers from every corner of the world. However, it timeshare exit team cost is important that we remain taken part in the Western Hemisphere and not lose sight of our interests so close to home. I look forward to hearing from our witnesses on how the U.S. efforts in the Caribbean can improve and how America can continue to enhance its partnership with our Caribbean neighbors. Mr. Duncan. I will thank the ranking member, and I will simply say I do not understand the number of other members we are going to have today. We have actually adjourned for the August recess break and we wanted to continue. Knowing that we were going to adjourn, we were prepared to continue with this hearing because that is how crucial it is to the ranking member and myself, so don't think since no other members appear that it isn't an essential concern to the committee and to the subcommittee. And I anticipate hearing from the witnesses who are effectively known to the.
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committee so their bios are offered to us, and I will acknowledge Eric Farnsworth for 5 minutes. ERIC FARNSWORTH, VICE PRESIDENT, COUNCIL OF THE AMERICAS AND AMERICAS SOCIETY Mr. Farnsworth. Well, Mr. Chairman, thank you extremely much for continuing with the hearing on such an essential subject. Thank you for your leadership in general on these concerns as well as the Caribbean particularly, and Mr. Ranking Member, you too. It is really essential to have a bipartisan voice on these concerns and we keep in mind that. We take complete satisfaction in that and thank you for that management, and we ask that that would continue in some method offered the significance of the wesleyan financial services concerns at hand. The United States does have tactical issues.
in the Caribbean Basin and we do not often speak about it because method, but in my view they are tactical, from support for democratic institutions-- some of which are rather delicate; a few of which are strong and enduring-- we have security interests including drug trafficking, counterterrorism, the fight against financial crimes, obviously immigration and humanitarian issues, energy, the environment, economic Go to the website development; it is an extremely wide variety of issues to which the United States has interest. Mr. Sires. Thank you. Mr. Chairman. Mr. Duncan. The Chair will now go to Mr. Yoho from Florida. Mr. Yoho. Mr. Chairman, I value you putting this together, and I wish to thank you for putting the pivot on our neighbors in the Caribbean. As you have stated which we have seen, and it is not simply this administration, it is most likely over the last 20 or thirty years where we have actually taken our eye off the ball in the Caribbean. When we have country states that near us with like cultures, you know, we value the very same things, our family worths, things like that, that near us, and we take the eye off of that we start losing our competitiveness and we have actually seen that.
And it is so essential down in that location and we desire individuals, you know, primary is to be safe because area. And with the disputes going on in the world we don't want them to get into in that area and sadly, we are starting to see that. And I believe one of the greatest things is President Maduro, after Chavez, seeing what is going on in Venezuela. And we have seen in the past, when you have self-appointed dictators that concern power and when they fall there is a vacuum filled. We have actually seen that around the globe.
