Premier David Burt encouraged following busy Washington DC Visit

~Key meetings reinforced Bermuda/US partnership~ The Premier and Minister of Finance, the Hon. David Burt JP, MP, returned from Washington DC on
Friday (March 31) evening, following a busy week of high-level meetings with members of the US Congress and Biden Administration Officials.

This trip marked the Premier’s first official visit to Washington DC since 2019, before the pandemic.
The visit provided an opportunity to advance the cooperative and productive partnership between the United States and Bermuda.

While in Washington DC, the Premier held meetings with several Members of the House of Representatives, including:
● Representative Maxine Waters (California’s 43rd Congressional District), Ranking Member of the
Financial Services Committee;
● Representative Joyce Beatty (Ohio’s 3rd Congressional District), Ranking Member of the Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions;
● Representative Vern Buchanan (Florida’s 16th Congressional District), Vice-Chair of the Ways and
Means Committee and Member of the Subcommittee on Trade;
● Representative Warren Davidson (Ohio’s 8th Congressional District), Chairman of the Financial
Services Subcommittee on Housing and Insurance Subcommittee and Vice Chair of the Digital
Assets Subcommittee;
● Representative Andy Barr (Kentucky’s 6th Congressional District), Chairman of the Financial Services Subcommittee on Financial Institutions and Monetary Policy;
● Representative Bill Foster (Illinois’s 11th Congressional District, Co-Chair of Congressional
Blockchain Caucus) Ranking Member of the Financial Services Subcommittee on Financial Institutions and Monetary Policy; and
● Representative Troy Carter (Louisiana’s 2nd Congressional District), Committee on Homeland

The Premier also attended a breakfast with leaders of the Congressional Black Caucus and Caribbean
Premier Burt also met with US Senators including:
• Senator Raphael Warnock (Georgia), Committee on Banking, Housing, and Urban Affairs and
Committee on Agriculture, Nutrition, and Forestry.
● Senator Kirsten Gillibrand (New York), Committee on Agriculture, Nutrition, and Forestry and Committee on Armed Services.
● Senator Chris Van Hollen (Maryland), Committee on Banking, Housing, and Urban Affairs and Committee on Foreign Relations.
Regarding the meetings with the Members of Congress, Premier Burt said, “It was a pleasure to meet with Members of the United States House of Representatives and Senate.
“Given the variety of expertise and interests of the Representatives that I met with, we were able to discuss many critical issues throughout our meetings, such as, Bermuda’s high levels of compliance with international Anti-Money Laundering standards; the impact of bank de-risking on Bermudian businesses and residents; the importance of Bermuda’s insurance and reinsurance sector to the United States; the
Global Minimum Tax initiative; and Bermuda’s regulatory leadership in the digital asset industry.

“It is vital that the Government of Bermuda took this opportunity to return to Washington DC and reiterate to US leaders and lawmakers that Bermuda continues to uphold its reputation for regulatory excellence. Bermuda’s (re)insurance industry also plays a key role in the United States.

“It has helped to establish deep links between our country and states such as Georgia, Florida and Louisiana, which I enjoyed discussing with Senator Warnock, Rep. Buchanan and Rep Carter.”

The Premier continued, “During meetings with Representatives Foster and Davidson, who hold leadership positions on subcommittees regarding digital assets, we discussed Bermuda’s innovative and comprehensive regulatory framework for digital assets.
“I also advised of Bermuda’s willingness to share how we have addressed challenges that US lawmakers are currently examining in an effort to promote international cooperation.”

The Premier was also joined by the United States Consul General (USCG) to Bermuda, Karen Grissette, for meetings with State Department officials. Meetings took place with:
• Brian Roraff, Director, Office of Northern European, Baltic, and Arctic Security Affairs
(responsible for the UK and Overseas Territories)
• Drew Weinschenk, Director, Office of Counter Threat Finance

Additionally, the Premier met with Scott Rembrant, Deputy Assistant Secretary for Terrorist Financing and Financial Crimes.

Premier David Burt said, “The United States and Bermuda have enjoyed a long and cooperative partnership in a number of areas, including security and combatting financial and cross-border crime.

“Bermuda’s (re)insurance industry is also crucial in supporting the United States’ economic recovery following natural disasters. During meetings with State Department officials, I reiterated all these critical points and heard from State Department officials how we can continue to strengthen the cooperation
between our two countries.

“I am grateful for the support of the US Consul General, Karen Grissette, who helped coordinate these meetings. The USCG provides a critical link between Bermuda and the US, and these discussions helped strengthen our relationship and ensure Bermuda’s interests are understood and represented to the Biden Administration.”

The Premier concluded his visit in Washington DC with a meeting with board members of the Global
Blockchain Business Council on Friday morning to discuss Bermuda’s progress in the digital asset industry.
The Premier was joined by the Government of Bermuda Overseas Representative in Washington DC,
Anthony Howell and Jache Adams, Policy Advisor to the Minister of Finance and a Member of Parliament.

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