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I want to offer you all a break for a moment and transform to Mr. Swartz. Generally, we would have had two panels, but we really did not recognize exactly how the Senate would certainly be running today, so in an initiative to make sure we obtained via all the treaties today, we did this as one panel.

Swartz, you point out in your testament and also your declarations that the treaty with Bermuda also punctures financial institution secrecy and gives a mechanism for us obtaining the details we require. There have been some mutual lawful support treaties that contain provisions relevant straight to sharing financial institution records or other economic details.

Swartz. Thanks, Mr. Chairman. With regard to that particular issue, the board might be referring to the reasonably new arrangement that appears, for instance, in our E.U.-U.S. Mutual Legal Support Treaty, the identification of bank documents stipulation. That was an arrangement that was prepared and embraced in the context of the E.U.

Under that arrangement, it's possible for the requesting event to look for information as to whether an account exists in the requested country, or in the instance of the E.U., one of the requested member states. Thereafter, the demand, if there is a recognition of an account, should be complied with up through a standard common legal aid treaty.

And also when it come to Bermuda, our record of participation has been excellent. Our team believe that the record we have on the manufacturing of documents, including bank records, is such that we are positive that the arrangements consisted of in this common legal assistance treaty, which do need cooperation on the production of records, will be sufficient to make sure that we obtain the records we require for our economic examinations and various other investigations.

A few other MLATs additionally enable for immediate, non-written type requests to be made. It's my understanding that in Bermuda, it has to remain in written kind. Any type of reason that that provision was not consisted of in this contract? Mr. Swartz. Mr. Chairman, while it is true that the Common Legal Help Treaty does require requests in written form, it was the judgment of the negotiators that it sufficed that, in this case, with respect to Bermuda, we would certainly have the ability to obtain quick responses to our requests and likewise offer such responses to Bermuda's requests, especially since we have a technique already established that will certainly proceed, we think, under the treaty of being able to communicate those demands via email or via fax.

Senator Cardin. Was this, basically, a decision made by U.S. mediators, that it was not necessary, recognizing exactly how we can swiftly get faxes as well as e-mails sent? Is that fair adequate to say, or otherwise? Mr. Johnson. Legislator, if I can assist on that particular one? Senator Cardin. Certain. Mr. Johnson.

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Bermuda stood up to that because they intended to see to it that the requests were clear and also in a more official way. In the arrangements, it also ended up being clear that they accepted that such request might be made by fax or by e-mail. So the actual concern they were concerned about was not discovering a quick methods to make a demand, yet actually just taking oral 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 be efficient. Mr. Swartz. Mr. Chairman, if I might add, actually, while it is a benefit to be able to make oral requests, in technique, it's very uncommon that we do so.

Legislator Cardin. My primary worry is just, in immediate matters, that it's not delayed. As well as with contemporary interaction, it appears to me that can possibly be taken care of. I'm more worried about bank documents. Mr. Johnson, do have any type of discuss the financial institution documents concern? Mr. Johnson. Once again, not particularly on the bank concern.

The distinction between being able to do a dental request or having the ability to use one of these other extremely quick means, we think, is not consequential. Legislator Cardin. There've been some problems increased about the competence of Bermuda legislation with respect to forfeitures of proceeds and instrumentalities of criminal offenses.

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Swartz. Mr. Chairman, we are. Obviously, the advancement of loss legislation is an important as well as progressive matter. We have actually seen a number of adjustments over the training course of the years, including below in the United States. However the Mutual Lawful Support Treaty in Article 17 does obligate Bermuda to offer support to the United States in procedures associating to loss of profits and also instrumentalities of criminal offense, to the level permitted by the law of Bermuda.

We have actually had two instances of successful requests for restraint and also loss of properties. Both instances were a success and also we were able to acquire the funds. As a general issue, aid is offered under the legislations of Bermuda, as well as I do believe that is necessary to stress and anxiety, when it come to freezing, confiscating, as well as restraining possessions, including for matters associating with terrorism as well as terrorism funding.

It needs to be noted that forfeit assistance is not restricted to what is permitted under Bermuda's domestic regulation. When it come to a UNITED STATE order, Bermuda can not forfeit a details instrumentality of nondrug offenses, because that power doesn't exist domestically. Yet once more, that's limited to agencies in nondrug violation instances.

Legislator Cardin. Thanks. Let me simply ask the general question, and any type of one of you can respond to it. In the Bermuda agreement, there's an arrangement that is not unfamiliar to us, where Bermuda can refute teamwork in funding cases. We comprehend, I understand that, so I'm not being critical of that stipulation being included in there.

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Are we prevented as a result of that or is there a way in which we are able to cooperate under this treaty, also in those cases? Mr. Chairman, we think as well as we wish we still would be able to cooperate.

In fact, we have that experience with various other nations that have put comparable analyses on the mutual lawful help duties, and also we've had the ability to work out arrangements in a number of cases that allow us to get proof or talk about whether the evidence is significant sufficient to move forward with some sort of additional actions being taken.

Mr. Johnson. Mr. Johnson. Yes, Senator, if I could simply include in that, one of the factors this treaty took as long it did to work out and wrap up is since it was very important to us to make sure that there wasn't a specific restriction on assistance in funding instances in the treaty itself.

Swartz pertaining to you. And also that way we assume that assists preserve the principle that's essential to us, that such participation must be offered, irrespective of the type of instance. And we think this has actually additionally birthed out with some other nations, where also with similar worries concerning cooperation in capital instances, they have, as an example, been able to supply help to the nonpenalty stage of a trial or an additional celebration investigation.

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They do hold the right under this treaty to deny cooperation where the United States criminal justice system is looking for capital punishment? Senator, they hold the right under the treaty to not supply assistance in situations that are in contrast to public plan or their essential rate of interests, as well as they have told us that they analyze that to permit them, in fatality penalty situations, to exercise that.

Legislator Cardin. I recognize that. I just intended to make it clear that they would not be an offense of the treaty. We understand their analysis, that if there was a case pending here that we needed their aid, where, clearly, the prosecutors were seeking the capital punishment, Bermuda can decide not to cooperate under this treaty (foreign tax credit).

Swartz. If I could say, Mr. Chairman, notably, the treaty would call for, because this would be a rejection under Write-up 3 of the treaty, that first there needed to be assessments with the United States, before that rejection could move forward. And also I think that's an essential element of the settlement that Mr.

Instead of having a specific stipulation, this is just one of a collection of problems under which support may be denied after appointment, and also, amongst various other things, that there should be factor to consider regarding whether support can be offered, based on such conditions as the asked for nation deems essential. And also our experience in that respect has actually been that we usually can find appropriate assurances to permit proof to be produced, a minimum of for first evaluation of the relevance of evidence in the situation generally.

And I think that would be handy for us to have that info in this board. Mr. Swartz. Thank you. foreign tax credit. We 'd be delighted to provide that. Legislator Cardin. Ms. Mc, Carthy, you have the easiest work below, considering that this arrangement was previously accepted by this committee. As I claimed in my opening, we approved it far too late in the 111th Congress for activity.

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Have there been any kind of substantial changes in our financial investment relationship with Rwanda given that last November when you offered testament on this treaty? Ms. Mc, Carthy. Thanks, Mr. Chairman. What we have actually seen since last November is an increase in United States financial investment in Rwanda, and also I can give you a few instances.

Additionally, in February of this year, we have Hilton Hotels; it's is going to open up a major resort in Kigali. As well as, likewise, Marriott Hotels is going in to assist in the country's expanding hospitality industry. So I would certainly claim that, given this pattern of boosted financial investment, that it is essential that the defenses be managed for them.

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financiers. Legislator Cardin. I thanks for that (foreign tax credit). You additionally stated the truth that the United States is exploring various other reciprocal investment treaties in Africa. I believe you mentioned one other country. I assume we have five current reciprocal investment treaties in Africa. Can you simply share with us other countries that the United States has shown rate of interest in working out treaties? Ms.

Legislator Cardin. Thanks. I have actually been told by the team that I need to ask the inquiry of whether the administration still supports the Us senate approval of the Rwanda treaty, given that it was held over from the last Congress. So, for the document? Ms. Mc, Carthy. We certainly do. Senator Cardin.



I assume that finishes the questioning. We may have some added questions for the document. As you recognize, the record stays open for 1 day, so you get a break. That's a quite quick turnaround time for this board. However I do value your patience with the committee as well as thank you significantly for your testament today.

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Answer. As established out listed below, we would like to offer upgraded information on reported UNITED STATE financial investment task in Rwanda. Other than these updates, the responses given by the Department's witness in the 111th Congress remain accurate. In 2009, the supply of U.S. foreign straight investment in Rwanda was $1 million (according to the Bureau of Economic Analysis).

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And also I think that would be valuable for us to have that information in this committee. Ms. Mc, Carthy, you have the simplest task here, considering that this contract was previously authorized by this committee. As I said in my opening, we accepted it too late in the 111th Congress for activity.

Have there been any kind of substantial changes in our investment partnership with Rwanda given that last November when you gave testimony on this treaty? What we have seen considering that last November is a boost in United States investment in Rwanda, and also I can offer you a few instances.

In February of this year, we have Hilton Hotels; it's is going to open up a significant hotel in Kigali. And, likewise, Marriott Hotels is going in to facilitate the nation's growing friendliness market. So I would certainly state that, provided this pattern of boosted financial investment, that it is essential that the securities be afforded for them.

investors. Legislator Cardin (foreign tax credit). I thanks for that. You additionally pointed out the reality that the United States is checking out other reciprocal financial investment treaties in Africa. I think you pointed out one various other nation. I assume we have five existing reciprocal financial investment treaties in Africa. Can you simply share with us various other countries that the United States has revealed interest in negotiating treaties? Ms.

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Legislator Cardin. Thanks. I've been informed by the team that I must ask the concern of whether the management still supports the Us senate adoption of the Rwanda treaty, since it was held over from the last Congress. So, for the document? Ms. Mc, Carthy. We definitely do. Legislator Cardin.

I believe that finishes the examining. I do appreciate your patience with the board as well as thank you extremely a lot for your testimony today.

Solution. As laid out listed below, we want to provide upgraded details on reported UNITED STATE investment activity in Rwanda. Apart from these updates, the answers given by the Division's witness in the 111th Congress remain accurate. In 2009, the supply of U.S. foreign direct financial investment in Rwanda was $1 million (according to the Bureau of Economic Analysis).

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