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verdict These stipulations and also concerns are all gone over in more information in the Joint Board personnel handouts on the recommended treaty and methods. I enjoy to respond to any type of inquiries that your board may contend this time around or in the future. Senator Cardin. Thanks quite for your testimony.

Of training course, this treaty produces a binding lawful obligation to provide shared lawful aid, changing a collegial as well as excellent partnership with one that now has a treaty basis. Second, the treaty offers support in a vast array of criminal justice matters. As the board understands, the treaty provides that help will be approved in connection "with the examination, prosecution, and avoidance of criminal offenses for which the optimum penalty is deprivation of liberty for at the very least one year" as measured by the regulations of the celebration seeking support.

Third, the treaty also makes clear that aid will be available via proceedings by the Stocks and Exchange Compensation, when those process are incidental to or connected with pending criminal examinations and process, which of course is very important for our economic criminal activity examinations. 4th, the treaty likewise attends to a broad series of various kinds of cooperation in criminal matters, consisting of taking the testimony or statements of individuals; giving records, documents, as well as various other types of evidence; transferring persons in safekeeping for testimony or other purposes; conducting searches and also seizures; assisting in proceedings associating with the loss of properties; and also any kind of other form helpful not inconsistent with the laws of the celebration giving the support.

The treaty, collectively worked out by the Departments of State and Justice, shows the worldwide police concerns of the Department of Justice. Accordingly, we sign up with the Department of State in prompting the committee to report favorably to the Us senate and also suggest its suggestions and consent to adoption of the treaty.

Virtually 35 years later, we now have MLATs active with over 60 nations. In addition, the transmittal plan for the MLAT with Bermuda provides an in-depth article-by-article analysis of the treaty, which I will not attempt to repeat right here. Rather, I want to highlight exactly how the MLAT with Bermuda reflects our international police top priorities.

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In enhancement, replacing the existing practice of optional collaboration, the treaty will develop a binding, legal responsibility to provide aid "about the investigation, prosecution, and avoidance of criminal offenses for which the maximum charge is deprivation of freedom for at the very least one year, and also in proceedings connected to criminal issues." Restricting applicability to offenses culpable by a minimum of 1 year's imprisonment, as gauged by the charge stipulations in the party seeking the support, explains that the treaty is to be used for requests connecting to major offenses, while still offering aid in a wide range of criminal issues, consisting of terrorism, organized criminal activity, narcotics trafficking, money laundering, scams, tax offenses, copyright criminal offenses and environmental offenses.

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Short article 21 of the treaty additionally clears up that assistance would be available for procedures by the Stocks and also Exchange Commission when those procedures are incidental to or attached with pending criminal examinations and also process. The treaty with Bermuda likewise attends to a wide series of different sorts of participation in criminal issues, consisting of taking the testament or statements of persons; providing documents, records, and also other short articles of proof; situating or determining individuals or things; serving papers; moving persons in wardship for testimony or other functions; conducting searches and seizures; aiding in process connected to the forfeiture of properties, restitution, and also the collection of criminal penalties; as well as any other kind of aid not irregular with the laws of the party providing the help.

Significantly, the Bermuda MLAT provides a structure for teamwork in the tracing, seizure, and also forfeit of criminally obtained properties. Despite the numerous benefits offered by the treaty with Bermuda, we understand that MLATs in themselves are not the service to all aspects of regulation enforcement collaboration. Their success relies on our capacity to execute them properly, incorporating extensive and also updated legal arrangements with the skills as well as political will of our treaty companions.

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If the Us senate supplies its suggestions and also grant ratification, this treaty will fill a void in the lawful structure for global law enforcement participation in this region. The treaty is one of a series of modern mutual lawful support treaties discussed by the United States because the 1980s and also contains all the important provisions of such treaties that the United States seeks.

This responsibility would reach process connected to criminal issues, such as forfeiture procedures, along with procedures of the Securities and also Exchange Payment when supplementary to pending criminal examinations or prosecutions. The treaty itself additionally serves to create an added legal responsibility to give assistance connected to criminal tax offenses, consisting of those not covered by the two existing tax contracts we have with Bermuda.

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I would certainly note that unlike a number of our other shared lawful assistance treaties covering abroad areas of the UK, which have actually been ended by the UK on their behalf, this treaty was ended directly with the Federal government of Bermuda. Prior to signature, the United States acquired from the United Kingdom a duplicate of its entrustment letter to Bermuda, giving Bermuda the authority to sign as well as end this treaty.

It's our understanding that Bermuda has actually finished the internal legal demands for access right into pressure of this treaty. It's, for that reason, important that the United States remains in a placement to bring this treaty into force immediately. We can after that start to benefit from the many devices it offers to enhance our law-enforcement teamwork with Bermuda.

If accepted, it would certainly create a lawful commitment for Bermuda to give assistance "in link with the examination, prosecution, and prevention of criminal offenses," with a couple of minimal exemptions. This commitment would certainly reach procedures connected to criminal matters, such as forfeiture proceedings, as well as process of the Stocks as well as Exchange Payment when ancillary to pending criminal investigations or prosecutions.

It offers that, prior to an event seeks to apply a compulsory action requiring an activity to be performed in the other celebration associating with an issue for which assistance is available under the treaty (such as production of financial institution documents), the celebration needs to first try in excellent confidence to get the wanted help under the treaty.

I would certainly additionally keep in mind that, unlike a number of various other mutual lawful assistance treaties covering abroad territories of the UK, which have been concluded by the UK on their behalf, this treaty was concluded straight with the Federal government of Bermuda. Prior to trademark, the United States gotten from the UK a duplicate of its entrustment letter to Bermuda, granting Bermuda authority to sign and wrap up the treaty.

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We comprehend that Bermuda has completed the internal lawful demands for entrance right into force of this treaty. It is, consequently, important that the United States remain in a placement to bring this treaty right into force immediately. We can then profit from the lots of devices it gives to enhance our regulation enforcement cooperation with Bermuda.

Thanks. Mr. Chairman, Senator Lee, thank you for the possibility to testify prior to the Foreign Relations Committee as the management looks for guidance and authorization of the Us senate to passage of the United States-Rwanda Bilateral Financial Investment Treaty. Foreign financial investment is an important resource of financial development in the United States and around the globe.

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Assistant of State Clinton, in her remarks at the OECD on Might 26, described a vital international agreement concerning growth, that "while aid is crucial, aid alone is not nearly enough; that to aid individuals reach their complete capacity, we need to additionally advertise sustainable and comprehensive financial growth." We intend to utilize the complete array of devices at our disposal to advertise these objectives, such as advertising corporate social responsibility through the OECD standards for international business, worldwide efforts to battle bribery of foreign public officials, and also tools such as bilateral investment agreements to promote better investment environments.

As well as it would protect the rights of the United States financiers in Rwanda. The management thanks the board for its factor to consider of the treaty, and we prompt you to report it favorably to the complete Us senate for action. I 'd be satisfied to respond to any kind of questions that you may have. [The prepared declaration of Ms.

Mc, Carthy Mr. Chairman, thanks for the chance to testify before the Foreign Relations Committee as the administration inquires and also consent of the Us senate to adoption of the United States-Rwanda Bilateral Financial Investment Treaty (BIT). investment and advancement objectives Foreign financial investment is a vital resource of financial growth in the United States as well as around the globe.

Roughly 27 percent of all U.S. exports are derived from foreign direct financial investment either in the United States or abroad. Foreign companies spent in the United States utilize over 5.

Foreign financial investment can likewise be a powerful device for economic growth abroad. Abroad growth support, while beneficial and also vital, can not match the power, speed, and also impact of private capital-- a necessary aspect for nations to move on economically. As Secretary of State Clinton has claimed, our company believe that investment and trade are powerful devices to spread out development as well as opportunity deep within cultures.



investment has the possible to change Rwanda's financial landscape and play a significant role in helping the Rwandan Government's efforts to end up being a regional economic hub. The LITTLE BIT with Rwanda, when effective, would strengthen the Rwandan Federal government's initiatives to additional reform its economy as well as advertise a solid business environment.

It will certainly additionally protect the civil liberties of U.S. capitalists in Rwanda. The Department of State and the Office of the UNITED STATE Profession Agent coled the negotiation of this treaty, with the involvement of the Departments of Commerce, the Treasury, and also various other U.S. Government companies. The treaty, which was authorized on February 19, 2008, includes a set of core investor protections, which include: National treatment as well as most-favored-nation therapy for the full life process of financial investment, consisting of in the facility, procurement, operation, monitoring, and also utmost personality of a financial investment; The free transfer of investment-related funds; Prompt, ample, as well as efficient compensation in the event of an expropriation; A minimal standard of therapy based in traditional global law; Freedom of investment from defined efficiency needs; Prohibitions on nationality-based limitations for the hiring of senior supervisors; as well as Arrangements on openness in magazine of financial investment- related legislations, laws, and various other procedures, as well as the opportunity, to the degree possible, for interested events to discuss such recommended actions.

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Under the model, each event might take minimal exceptions to the core responsibilities related to national treatment, most-favored-nation treatment, performance requirements, and also senior management as well as boards of supervisors. In this location, Rwanda has actually taken just a few, narrow exceptions; the treaty hence sends out a powerful signal about Rwanda's visibility to foreign investment.

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