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final thought These stipulations and problems are all discussed in even more detail in the Joint Board team pamphlets on the recommended treaty and protocols. I enjoy to address any questions that your committee may have at this moment or in the future. Senator Cardin. Thank you really a lot for your statement.

Of program, this treaty develops a binding legal commitment to provide mutual legal assistance, changing a collegial and also good connection with one that currently has a treaty basis. Second, the treaty provides for help in a vast array of criminal justice matters. As the committee recognizes, the treaty provides that assistance shall be provided in connection "with the investigation, prosecution, and avoidance of criminal offenses for which the maximum fine is deprival of liberty for at the very least one year" as measured by the legislations of the party seeking assistance.

Third, the treaty also makes clear that help will be available via proceedings by the Stocks and Exchange Commission, when those proceedings are subordinate to or gotten in touch with pending criminal investigations and also proceedings, which of course is very important for our financial crime investigations. 4th, the treaty also offers for a wide series of different sorts of teamwork in criminal matters, including taking the testimony or statements of individuals; offering documents, documents, as well as other types of proof; moving individuals captive for testimony or other objectives; performing searches as well as seizures; aiding in process connecting to the loss of possessions; and any type of other kind helpful not irregular with the regulations of the celebration providing the help.

The treaty, jointly discussed by the Departments of State and Justice, mirrors the global police priorities of the Division of Justice. Appropriately, we sign up with the Department of State in advising the board to report favorably to the Senate and suggest its advice and approval to passage of the treaty.

Almost 35 years later, we now have MLATs effective with over 60 countries. The transmittal bundle for the MLAT with Bermuda supplies a comprehensive article-by-article analysis of the treaty, which I will certainly not attempt to duplicate right here. form 5472 instructions. Rather, I would certainly such as to highlight just how the MLAT with Bermuda shows our international law enforcement priorities.

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Additionally, replacing the present method of discretionary collaboration, the treaty will certainly establish a binding, lawful commitment to offer help "about the examination, prosecution, and also prevention of criminal offenses for which the optimum charge is deprivation of liberty for at the very least one year, as well as in proceedings associated with criminal issues." Limiting applicability to offenses punishable by at the very least 1 year's jail time, as measured by the penalty arrangements in the event looking for the support, explains that the treaty is to be utilized for demands associating with major offenses, while still offering aid in a vast spectrum of criminal matters, consisting of terrorism, organized crime, narcotics trafficking, money laundering, scams, tax offenses, copyright crimes and also ecological offenses.

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Short article 21 of the treaty further clarifies that aid would be offered for proceedings by the Stocks and Exchange Commission when those proceedings are subordinate to or connected with pending criminal investigations and process. The treaty with Bermuda also attends to a wide series of various kinds of collaboration in criminal matters, including taking the testament or statements of persons; giving records, documents, as well as various other write-ups of evidence; finding or identifying persons or things; offering documents; moving persons captive for testament or various other objectives; conducting searches and seizures; aiding in process connected to the forfeiture of properties, restitution, as well as the collection of criminal fines; as well as any type of other form helpful not inconsistent with the regulations of the event giving the aid.

Considerably, the Bermuda MLAT provides a structure for participation in the mapping, seizure, and also forfeit of criminally obtained assets. In spite of the numerous advantages offered by the treaty with Bermuda, we recognize that MLATs in themselves are not the option to all facets of regulation enforcement participation. Their success relies on our capability to implement them properly, incorporating thorough and also upgraded lawful arrangements with the competence and political will of our treaty companions.

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If the Senate provides its recommendations and also grant adoption, this treaty will load a gap in the lawful structure for global police teamwork in this region. The treaty is among a collection of modern-day mutual legal aid treaties worked out by the United States given that the 1980s and consists of all the necessary arrangements of such treaties that the United States seeks.

This responsibility would certainly prolong to process related to criminal issues, such as loss process, as well as proceedings of the Securities as well as Exchange Compensation when supplementary to pending criminal examinations or prosecutions. The treaty itself also offers to create an added legal commitment to give assistance related to criminal tax offenses, including those not covered by the two existing tax agreements we have with Bermuda.

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I would keep in mind that unlike a variety of our other mutual lawful aid treaties covering abroad areas of the United Kingdom, which have actually been wrapped up by the United Kingdom on their part, this treaty was wrapped up straight with the Government of Bermuda. Prior to trademark, the United States obtained from the United Kingdom a duplicate of its entrustment letter to Bermuda, providing Bermuda the authority to sign as well as end this treaty.

It's our understanding that Bermuda has finished the internal lawful needs for access right into force of this treaty. It's, for that reason, essential that the United States is in a position to bring this treaty into pressure asap. We can after that start to take advantage of the lots of devices it gives to enhance our law-enforcement collaboration with Bermuda.

If accepted, it would certainly develop a lawful commitment for Bermuda to supply support "about the examination, prosecution, as well as prevention of criminal offenses," with a couple of minimal exemptions. This commitment would certainly reach proceedings connected to criminal issues, such as forfeit procedures, along with procedures of the Stocks as well as Exchange Payment when supplementary to pending criminal investigations or prosecutions.

It gives that, before an event seeks to enforce a mandatory procedure calling for an action to be performed in the various other celebration associating with a matter for which assistance is available under the treaty (such as production of bank documents), the event needs to first try in excellent belief to acquire the wanted aid under the treaty.

I would certainly also keep in mind that, unlike a variety of other common lawful aid treaties covering abroad areas of the United Kingdom, which have actually been concluded by the UK on their part, this treaty was concluded straight with the Federal government of Bermuda. Before signature, the United States obtained from the United Kingdom a duplicate of its entrustment letter to Bermuda, granting Bermuda authority to sign and also end the treaty.

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We comprehend that Bermuda has actually finished the interior lawful needs for entrance right into pressure of this treaty. It is, for that reason, crucial that the United States be in a placement to bring this treaty right into pressure asap. We can then benefit from the many devices it offers to improve our police cooperation with Bermuda.

Thank you. Mr. Chairman, Senator Lee, thank you for the opportunity to testify prior to the Foreign Relations Board as the management inquires and consent of the Senate to passage of the United States-Rwanda Bilateral Financial Investment Treaty. Foreign financial investment is an essential source of economic growth in the United States and also around the world.

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Secretary of State Clinton, in her remarks at the OECD on Might 26, referred to an essential international consensus concerning development, that "while aid is important, aid alone is inadequate; that to aid people reach their full possibility, we should additionally promote lasting and inclusive financial development." We wish to use the full series of devices at our disposal to advertise these goals, such as advertising business social obligation with the OECD standards for multinational enterprises, international efforts to battle bribery of foreign public officials, and tools such as reciprocal investment agreements to promote enhanced investment environments.

As well as it would certainly secure the civil liberties of the United States financiers in Rwanda. The management many thanks the board for its factor to consider of the treaty, and also we advise you to report it favorably to the complete Senate for action. The ready statement of Ms.

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Mc, Carthy Mr. Chairman, thank you for the opportunity to chance before the Foreign Relations Committee as the administration seeks advice looks for consent of permission Senate to us senate of adoption United States-Rwanda Bilateral Investment Treaty (BIT).

Approximately 27 percent of all U.S. exports are derived from foreign direct investment either in the United States or abroad. Foreign companies invested in the United States use over 5.

Foreign financial investment can also be an effective tool for economic development abroad. Overseas development support, while important and also essential, can not match the power, rate, and effect of exclusive resources-- an essential variable for nations to move ahead financially. As Secretary of State Clinton has actually stated, we believe that investment as well as trade are effective tools to spread out advancement as well as chance deep within societies.



financial investment has the possible to transform Rwanda's economic landscape as well as play a substantial function in aiding the Rwandan Government's initiatives to come to be a regional financial center. The BIT with Rwanda, when in force, would certainly reinforce the Rwandan Federal government's initiatives to additional reform its economic climate as well as promote a solid company climate.

It will also shield the rights of UNITED STATE capitalists in Rwanda. The Department of State as well as the Workplace of the UNITED STATE Trade Agent coled the negotiation of this treaty, with the engagement of the Departments of Commerce, the Treasury, and also other U.S. Government companies. The treaty, which was joined February 19, 2008, includes a set of core capitalist defenses, that include: National therapy and also most-favored-nation therapy for the complete life cycle of investment, consisting of in the establishment, purchase, procedure, administration, and also utmost personality of an investment; The free transfer of investment-related funds; Prompt, adequate, and also efficient payment in case of an expropriation; A minimal criterion of therapy grounded in customary worldwide regulation; Liberty of investment from defined efficiency demands; Restrictions on nationality-based constraints for the hiring of senior supervisors; and also Stipulations on openness in publication of financial investment- related regulations, laws, and also other procedures, and also the possibility, to the extent possible, for interested celebrations to discuss such recommended actions.

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Under the design, each celebration may take limited exemptions to the core responsibilities associated to national treatment, most-favored-nation treatment, performance requirements, as well as elderly monitoring and boards of supervisors. In this field, Rwanda has actually taken just a couple of, narrow exceptions; the treaty thus sends an effective signal about Rwanda's visibility to foreign investment.

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