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Published Sep 20, 21
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I want to give you all a break for a minute as well as turn to Mr. Swartz. Normally, we would certainly have had 2 panels, but we didn't know exactly how the Senate would be operating today, so in an initiative to make sure we obtained with all the treaties today, we did this as one panel.

Swartz, you mention in your testament and your declarations that the treaty with Bermuda also pierces financial institution privacy and gives a device for us getting the info we need. There have been some shared legal assistance treaties that contain provisions related straight to sharing bank documents or other economic details.

That was a provision that was drafted and also taken on in the context of the E.U.

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Under that provision, stipulation's possible for feasible requesting party asking for event information look for to whether an account exists in the requested country, or in the case of situation E.U., one of the requested member statesParticipant After that, the request, if there is an identification of an account, should be complied with up through a conventional common lawful help treaty.

And with respect to Bermuda, our document of teamwork has been very excellent. We think that the record we have on the manufacturing of documents, consisting of bank records, is such that we are confident that the provisions consisted of in this shared lawful support treaty, which do need participation on the manufacturing of records, will certainly be adequate to guarantee that we obtain the records we require for our monetary examinations as well as various other examinations.

Some various other MLATs additionally allow for immediate, non-written type demands to be made. Mr. Chairman, while it is true that the Mutual Legal Support Treaty does call for requests in written type, it was the judgment of the arbitrators that it sufficed that, in this instance, with regard to Bermuda, we would be able to obtain prompt feedbacks to our demands and likewise provide such reactions to Bermuda's requests, especially because we have a technique currently established that will continue, we think, under the treaty of being able to convey those demands with email or with fax.

Senator Cardin. Was this, generally, a choice made by U.S. negotiators, that it was not necessary, understanding exactly how we can promptly get faxes as well as emails sent out? Is that fair sufficient to say, or not? Mr. Johnson. Legislator, if I can assist on that one? Senator Cardin. Sure. Mr. Johnson.

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Bermuda resisted that since they wanted to see to it that the requests were clear as well as in a much more formal means. In the negotiations, it also became clear that they approved that such request might be made by fax or by email. The real issue they were concerned concerning was not discovering a quick ways to make a request, yet really just taking dental requests off the table.

We're certain that we've obtained the means in place that we can make urgent requests of them in a way that will certainly be reliable. Mr. Swartz. Mr. Chairman, if I may include, as a matter of fact, while it is a benefit to be able to make dental demands, in method, it's very uncommon that we do so.

Legislator Cardin. Mr. Johnson, do have any kind of remarks on the financial institution records concern? Mr. Johnson.

The distinction in between being able to do a dental request or being able to use one of these other extremely quick means, we think, is not substantial. Senator Cardin. There've been some problems elevated about the adequacy of Bermuda legislation relative to loss of profits and also agencies of criminal offenses.

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Mr. Chairman, we are. The Mutual Lawful Help Treaty in Write-up 17 does obligate Bermuda to provide help to the United States in procedures associating to loss of earnings as well as instrumentalities of crime, to the extent permitted by the legislation of Bermuda.

We've had two examples of effective demands for restriction and forfeiture of assets. Both circumstances were a success and also we were able to get the funds. As a general issue, aid is offered under the regulations of Bermuda, and I do assume that's essential to anxiety, when it come to cold, seizing, and limiting properties, including for matters connecting to terrorism and also terrorism funding.

Yet it should be kept in mind that forfeit aid is not restricted to what is allowed under Bermuda's domestic legislation. With regard to a UNITED STATE order, Bermuda can not surrender a particular agency of nondrug offenses, since that power does not exist locally. But once more, that's restricted to agencies in nondrug infraction situations.

Senator Cardin. In the Bermuda arrangement, there's an arrangement that is not strange to us, where Bermuda can deny collaboration in resources instances.

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Are we impeded as an outcome of that or is there a means in which we are able to coordinate under this treaty, also in those cases? Mr. Chairman, we think and we wish we still would certainly be able to work together.

As a matter of fact, we have that experience with various other nations that have actually put comparable analyses on the common lawful help responsibilities, and we have actually had the ability to work out setups in a number of situations that enable us to acquire proof or review whether the evidence is significant sufficient to move forward with some kind of additional steps being taken.

Mr. Johnson. Mr. Johnson. Yes, Legislator, if I might just include in that, among the factors this treaty took as lengthy it did to work out as well as wrap up is since it was necessary to us to see to it that there had not been a specific restriction on support in resources situations in the treaty itself.

Swartz pertaining to you. As well as that method we believe that aids preserve the concept that is very important to us, that such collaboration should be offered, irrespective of the type of situation. And we assume this has likewise substantiated with a few other countries, where also with similar worries about cooperation in resources instances, they have, as an example, had the ability to supply aid to the nonpenalty stage of a test or an additional event investigation.

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They do hold the right under this treaty to reject teamwork where the United States criminal justice system is looking for funding punishment? Senator, they hold the right under the treaty to not supply aid in instances that are contrary to public policy or their important rate of interests, and also they have told us that they translate that to allow them, in death charge instances, to work out that.

Senator Cardin. I comprehend that. I simply intended to make it clear that they would certainly not be a violation of the treaty. We comprehend their interpretation, that if there was a case pending below that we required their assistance, where, plainly, the prosecutors were seeking the death sentence, Bermuda might make a decision not to comply under this treaty (foreign tax credit).

If I can state, Mr. Chairman, importantly, the treaty would require, given that this would be a rejection under Article 3 of the treaty, that first there had to be assessments with the United States, before that rejection might go ahead. And also I think that's an essential element of the settlement that Mr.

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Rather than having an explicit provision, arrangement is one of a set of collection under problems assistance may aid denied after rejected, assessment, among other amongstVarious other that there must be have to as factor to consider whether assistance can be given, provided to such conditions as the requested country deems nationRegards

And also I think that would certainly be useful for us to have that info in this board. Mr. Swartz. Thank you. foreign tax credit. We would certainly rejoice to supply that. Legislator Cardin. Ms. Mc, Carthy, you have the simplest task below, considering that this arrangement was formerly authorized by this board. As I stated in my opening, we accepted it far too late in the 111th Congress for action.

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Have there been any significant modifications in our financial investment relationship with Rwanda considering that last November when you offered testament on this treaty? Ms. Mc, Carthy. Thanks, Mr. Chairman. What we have actually seen because last November is a boost in United States investment in Rwanda, as well as I can offer you a few examples.

In February of this year, we have Hilton Hotels; it's is going to open up a significant resort in Kigali. And, also, Marriott Hotels is entering to facilitate the country's expanding hospitality market. So I would say that, offered this pattern of enhanced financial investment, that it is very important that the defenses be managed for them.

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financiers. Senator Cardin. I thanks for that (foreign tax credit). You also pointed out the fact that the United States is checking out other reciprocal investment treaties in Africa. I believe you mentioned one other nation. I think we have five present bilateral financial investment treaties in Africa. Can you simply share with us other countries that the United States has revealed interest in working out treaties? Ms.

Legislator Cardin. Thanks. I've been told by the staff that I should ask the question of whether the administration still sustains the Senate adoption of the Rwanda treaty, considering that it was held over from the last Congress. So, for the record? Ms. Mc, Carthy. We absolutely do. Senator Cardin.

I think that finishes the examining. We could have some added questions for the record. As you know, the record stays open for 24 hr, so you obtain a break. That's a quite rapid turn-around time for this committee. I do value your perseverance with the board and also thank you really much for your testament today.

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Answer. As laid out below, we would love to give upgraded info on reported U.S. financial investment activity in Rwanda. Apart from these updates, the answers provided by the Division's witness in the 111th Congress continue to be precise. In 2009, the stock of U.S. foreign straight investment in Rwanda was $1 million (according to the Bureau of Economic Evaluation).

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And also I assume that would be practical for us to have that details in this board. Ms. Mc, Carthy, you have the most convenient work below, considering that this arrangement was formerly approved by this committee. As I claimed in my opening, we accepted it as well late in the 111th Congress for action.

Have there been any kind of significant modifications in our investment relationship with Rwanda considering that last November when you gave testimony on this treaty? Ms. Mc, Carthy. Thanks, Mr. Chairman. What we have actually seen because last November is an increase in United States investment in Rwanda, as well as I can offer you a couple of instances.

Likewise, in February of this year, we have Hilton Hotels; it's is mosting likely to open up a major hotel in Kigali. And also, likewise, Marriott Hotels is entering to promote the nation's expanding friendliness market. So I would say that, provided this pattern of boosted financial investment, that it is necessary that the defenses be afforded for them.

investors. Legislator Cardin (foreign tax credit). I thanks for that. You additionally stated the truth that the United States is discovering other reciprocal financial investment treaties in Africa. I think you pointed out one various other nation. I believe we have 5 present bilateral investment treaties in Africa. Can you just share with us various other countries that the United States has revealed rate of interest in bargaining treaties? Ms.

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Legislator Cardin. Thank you. I've been informed by the personnel that I need to ask the inquiry of whether the administration still supports the Us senate passage of the Rwanda treaty, considering that it was held over from the last Congress. For the document? Ms. Mc, Carthy. We absolutely do. Senator Cardin.

I think that finishes the examining. I do appreciate your patience with the board as well as thank you very much for your statement today.

As set out listed below, we would like to offer updated information on reported U.S. investment task in Rwanda. In 2009, the supply of U.S. foreign direct investment in Rwanda was $1 million (according to the Bureau of Economic Analysis).