Panama Agreement to Solidify Incredible Growth

It was announced last week that the Panama Canal and the United States’ Miami Port have renewed and ratified a strategic alliance.

The alliance will boost international trade, according to the Panama Canal Authority administrator, Alberto Aleman Zubieta. The agreement was signed by Administrator Zubieta as well as the director of the Miami Port, Hill Johnson. The agreement is signed and ratified each year by both parties.

The Miami Port is an important ally of the Panama Canal. An international trade center, the Miami Port is the closest port to the canal. The agreement will allow for the continued placement of large cargo vessels. In 2007, the Miami Port received over 2 million tons of cargo from Panama. The two ports include operations of over 20 maritime companies that deliver to 100 countries and 250 international ports.

As the maritime industry experiences incredible growth, the alliance between the two organizations becomes increasingly important. The Panama Canal is slated to be finished in 2014, a $5.2 billion U.S. dollar project.

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