Chairman Cook on the hearing: “The U.S. accounted for nearly one-third of all foreign direct investment flows into Latin America and the Caribbean over the last decade and today is the largest individual source of foreign investment in the region. The region’s economic landscape provides tremendous opportunities for further growth and investment, especially in technology and energy sectors, and many U.S. businesses are beginning to explore the new opportunities. However, challenges with rampant corruption, poor regulatory frameworks, and a lack of transparency and accountability in government processes threaten the sustainability of future regional economic growth and make it difficult for greater U.S. commercial investment. These conditions also enable actors like China and Russia to promote their agendas in the region, which often do not align with market-oriented, democratic principles. The region has made significant advancements throughout the last decade, and this hearing will consider how the U.S. can work with our partners to encourage greater regional prosperity.”

Witnesses

Mr. Eric Farnsworth
Vice President
Americas Society / Council of the Americas
[full text of statement]
[truth in testimony form]

Mr. Neil Herrington
Senior Vice President for the Americas
U.S. Chamber of Commerce
[full text of statement]
[truth in testimony form]

Ms. Kellie Meiman Hock
Managing Partner
McLarty Associates
[full text of statement]
[truth in testimony form]