The Panama Canal expansion will allow larger ships to travel to the East Coast.
Panama President Ricardo Martinelli symbolically hoisted the Panamanian flag at a special ceremony held to mark a decade of national stewardship for the Panama Canal at year end. The canal, a vital trade artery for world trade including that between Asia and the east coast of the Americas, has enjoyed significant growth ‘by nearly every measure; during that period according to the Panama Canal Authority (ACP). The ACP Chairman said, “After the handover in 1999 and shifting our business model from a profit-neutral utility to a market-oriented business model, we never lost sight of our vision and responsibility to global trade. I believe that has been a key tenet of the Canal’s success.”