They still believe they are visiting Hemingway having a drink over there at La Bodeguita. So how do you see that taking place? What do you see happening there as tourism keeps increasing and individuals don't go to the other destinations? Yes (What does etf stand for in finance). Mr. Bernal. The return of Cuba to as a destination for American tourists has both unfavorable and positive impacts. In the short run it is a brand-new destination. It is going to draw in a great deal of financial investment and tourists there, which might divert, particularly, tourists from the nearby islands to Cuba such as the Bahamas and Dominican Republic, but it could affect the whole Caribbean.
What is very important for the Caribbean is to do the following: One, to keep the freshness of the tourist product and its worldwide competitiveness in cost and quality; and second of all, to try to find the possibility of numerous destination tourist. That is, a long time in Cuba, some time in the remainder of the Caribbean, find collaborative methods. Finally, the Caribbean has remarkable tourist competence and management which it can use to Cuba in constructing Cuban tourist. One of the vital things is to make sure that as airlift originates from new markets like China that the Caribbean also ensures that it is competitive with the new locations.
So the Caribbean faces competitors, however it is a market in the Caribbean which has revealed an ability to remain worldwide competitive and appealing. I have no doubt that the market will continue to grow, however it needs to up its game due to the fact that of the brand-new competitors. Ms. Yearwood. I do not have a lot to contribute to Ambassador Bernal's point. International tourism grew by 4 percent in 2015; international trade grew by 2. 8 percent. So what we do understand it that the tourist market continues to expand and the Caribbean's development has actually been positive for some time now. So I think on the whole, the Caribbean is succeeding.
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The Caribbean Hotel & Tourism did do a research study on the interruption that Cuba might cause. However among the points that there is, is that the U.S. is the only nation that has the embargo on Cuba and other nations have actually been traveling to Cuba with no interference permanently, I think, and so that market is safe. You have the Canadians, the Europeans. To Ambassador Bernal's point the emerging Chinese and Asian market entering the Caribbean, so I think it is both a challenge and a chance. But I think as long the Caribbean does deal with its competitive issues and does remain able to take on Cuba on expense and quality they ought to be alright.
Sires. Thank you. Mr. Duncan. Well, as you can see, on a day when sessions end and individuals are leaving town we have the committee members come even unexpected to the chairman, which shows the importance that the Caribbean area is to our subcommittee, to Congress as an entire, and I believe to the government. We are going to continue diving into these issues and figuring out manner ins which we can engage more, specifically due to Venezuela as we have actually talked about, and what might or may not occur with Petrocaribe. I believe there is fantastic opportunity. I speak about jobs, energy, and the starting fathers all the time.
So witnesses are reminded there may be other questions that are submitted and we ask you to respond to those. We will leave the record open for 10 free branson vacation timeshare days. And we wish to thank you Eric, Sally, and Ambassador. Why are you interested in finance. Thanks for coming and I eagerly anticipate continuing the discussion. Yes, thank you. Yes, sir. Mr. Bernal. It would be remiss people if we didn't put on record our gratitude to you for your management and chairing of the committee and for assembling this session to give us a chance to share some views with you, and we put on record our gratitude.
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Mr. Duncan. Well, let's put the attention where it is directed. My ranking member wished to concentrate on this issue and I am grateful he did. We were welcome to, delighted to accommodate him and I value that. It sort of directed my focus toward the region and I am very pleased that he did. So we will eagerly anticipate seeing you in September after this break and I hope everyone has a great break too. And with that the committee will stand adjourned. [Whereupon, at 3:39 p. m., the subcommittee was adjourned.] A P P E N D I X ---------- Product Submitted for the Record < [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] [all].
Caribbean Region: Issues in U.S. Relations On October 4, 2006, the President signed into law the FY2007 Department of Homeland Security Appropriations Act (P.L. 109-295, H.R. 5441), which has a provision (Area 546) extending the deadline needing U.S. people taking a trip by land or sea in between the United States and the Caribbean (in addition to Canada, Mexico, and Central and South America) to have passports or other documents denoting identity and citizenship. The deadline was extended how to rescind a timeshare contract from January 1, 2008, to June 1, 2009, or earlier if the Secretary of State and Secretary of Homeland Security jointly certify certain criteria concerning the brand-new file or passport card being established.
people to have passports for travel by air in between the United States and the Caribbean (along with Canada and Mexico.) On August 28, 2006, Guyana held nationwide elections in which President Baharrat Jagdeo was re-elected with almost 55% of the vote. Some observers had expected political violence, but the elections were the most tranquil and orderly in current history, according to the Carter Center, which observed the elections. On July 3, 2006, Haiti's participation in the Caribbean Neighborhood (CARICOM) was officially renewed at the company's top in St. Kitts and Nevis. Haiti's involvement had actually been suspended after the departure of President Jean Bertrand Aristide from power in February 2004.
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792 (Meeks) by voice vote, recognizing the 40th anniversary of Guyana's independence and extending finest wishes to Guyana for peace and further development, development, and prosperity. On April 22, 2006, Guyana's Agriculture minister, together with his 2 siblings and a security personnel, were shot and eliminated in an obvious break-in. On April 12, 2006, U.S. and CARICOM trade officials meeting in Washington started initial exploration of a potential complimentary trade contract. The authorities likewise consented to rejuvenate a dormant U.S.-CARICOM Trade and Investment Council that had originally developed in the early 1990s. On March 30, 2006, Portia Simpson Miller was sworn in as Jamaica's very first female Prime Minister.