Echols, Marsha A., Washington, DC 683 Economic Consulting Services, Inc., Stanley Nehmer 787 Economic Development Administration of the Commonwealth of Puerto Rico, 857 Norwegian Caribbean Lines, Arthur W. Kane.... 522 O'Day, Paul, Man-Made Fiber Producers Association. Production Sharing International, Ltd., Cameron Clark, Jr. 775 Rannik, Jaak E., American Chamber of Commerce of the Dominican Repub- lic, and Association of American Chambers of Commerce in Latin America.. 580 Santaella, His Excellency Eulogio, Ambassador of the Dominican Republic..... St. Lucia, Government of, His Excellency Dr. Joseph E. Edmunds.... Sood, James H., College of Business, American University. Stangeland, Hon. Arlan, a Representative in Congress from the State of Starobin, Herman, International Ladies' Garment Workers Union. United Fruit Co., Division of United Brands, Robert F. Corrigan 729 Universal City Studios, Inc., Charles Morgan 731 VanGrasstek, Craig, trade policy consultant... 411 Vargas-Peralta, His Excellency Federico, Ambassador of Costa Rica.............. 360 Vaughn, Eric, Renewable Fuels Association 835 Vind, Richard B., Tropicana International (Jamaica), Ltd.. 812 I. Questions and responses from the U.S. Trade Representative......... II. Questions addressed to representatives of the CBI countries and responses Allied Ethanol Ltd., Richard B. Berryman and Alan Kashdan, letter...... American Hotel & Motel Association, Albert L. McDermott, letter IMPACT AND EFFECTIVENESS OF THE CARRIBEAN BASIN INITIATIVE TUESDAY, FEBRUARY 25, 1986 HOUSE OF REPRESENTATIVES, The subcommittee met, pursuant to notice, at 10:05 a.m., in room 1100, Longworth House Office Building, Hon. J.J. Pickle (chairman of the subcommittee) presiding. [The press release announcing the hearings follows:] (1) FOR IMMEDIATE RELEASE WEDNESDAY, FEBRUARY 5, 1986 PRESS RELEASE #14 SUBCOMMITTEE ON OVERSIGHT WASHINGTON, D.C. 20515 THE HONORABLE J. J. PICKLE, (D., TEXAS), CHAIRMAN, ANNOUNCES HEARINGS TO REVIEW THE IMPACT AND EFFECTIVENESS The Honorable J. J. Pickle (D., Texas), Chairman of the Subcommittee on Oversight, Committee on Ways and Means, U.S. House of Representatives, announced today that the Subcommittee will hold hearings to evaluate the impact and effectiveness of the Caribbean Basin Initiative (CBI), a twelve-year trade and economic development program with the Caribbean Basin countries. The CBI was enacted into law in 1983 and went into effect on January 1, 1984. The hearings have been scheduled for Tuesday, February 25, and Thursday, February 27, 1986 in the Main Committee Hearing Room, 1100 Longworth House Office Building, beginning at 10:00 a.m. each day. The Subcommittee has requested that representatives from the Department of Commerce, Department of State, Department of the Treasury and the Office of the United States Trade Representative appear as witnesses. The Subcommittee has also invited testimony from other Federal departments and agencies, private sector groups, and other interested parties involved in the implementation of the CBI program. In announcing the hearing, Chairman Pickle stated, "The commitment that we made in 1983 to increase trade with our neighbors in the Caribbean and to foster economic development and growth in that region is a serious one. Our national security interests are dependent on a strong relationship with all Caribbean and Central American countries. I am interested in examining the progress made as a result of enacting the CBI after two years of experience. Also, I want to discuss the results of negotiation of tax information exchange agreements with the CBI countries. An early assessment of the CBI will benefit both the U.S. and the Caribbean Basin countries in achieving the objectives and goals set out for the remaining ten years. Problem areas need to be identified and addressed by the Committee in a timely fashion. To complete our review, I am hopeful that the Subcommittee will be able to visit several Caribbean and Central American countries this year to examine the results of the CBI firsthand." BACKGROUND: The Caribbean Basin Initiative (CBI) was enacted on August 5, 1983, authorizing preferential trade and tax measures for Caribbean Basin countries and territories. The centerpiece of the CBI is the authority granted to the President under the Caribbean Basin Economic Recovery Act to provide unilateral duty-free treatment on U.S. imports of eligible articles from designated Caribbean Basin countries and territories. In addition, the Act allows deductions for business expenses incurred while attending conventions and meetings in a designated Caribbean Basin beneficiary country, if that country enters into an agreement with the United States to provide for the exchange of certain tax information. The provisions of the CBI expire September 30, 1995. Currently, the following countries are eligible and qualify for the benefits of the CBI: Antigua and Barbuda, the Bahamas, Barbados, Belize, Bermuda, the British Virgin Islands, Costa Rica, -MORE |