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Panama and US sign maritime transportation agreement

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Panama’s Minister of Maritime Affairs Jorge Barakat and the United States’ Maritime Authority Administration (MARAD)’s Admiral Mark. H. Buzby, have inked a major maritime transport co-operation agreement in Washington D.C.

"The signing of this Memorandum of Co-operation will optimise the exchange of information and experiences for the training of seafarers and port operators; it will also promote favourable conditions for the private sector investment and will serve as a framework to present the maritime investment projects promoted by Panama to US investors, in order to continue strengthening Panama’s logistics hub," said Minister Barakat.

Since the maritime industry is a crucial part of the world trade, the agreement will contribute to the sustainable growth of this important industry and will work to meet the world's expectations with regards to safety, environmental protection and responsibility. 

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“Likewise, our ties between the US and Panama will be strengthened in maritime commercial activities, ties that go back to the beginning of the 20th century with the construction of the Panama Canal, one of the most important world endeavours, which plays a vital role in the efficiency and sustainability of maritime transport,” added Barakat.

“It is important to highlight that today we have fulfilled one of the main objectives proposed by both administrations since the bilateral meeting held in 2016, when we presented the first draft of the Agreement together with the interest of our country in strengthening the bonds of understanding and maritime cooperation.

“It is the beginning of a lasting relationship between the Maritime Authority of Panama (AMP) and the Maritime Administration of the United States of America (MARAD).”

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