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Monday, March 25 2019 @ 07:48 PM UTC

Panama Canal Board Chariman Speaks in Tokyo

Canal Expansion (Source) PANAMA CITY, Panama, September 25, 2006 – Panama Canal Authority (ACP) Board Chairman and Concurrent Minister of Canal Affairs Dr. Ricaurte Vásquez Morales spoke at a private-sector forum hosted by the Inter-American Development Bank (IDB) and Japan Bank for International Cooperation (JBIC) in Tokyo, Japan last Friday, September 22. Dr. Vásquez briefed forum participants on the Panama Canal expansion proposal, as well as highlighted investment and business opportunities in the areas of infrastructure, multi-modal transportation, information technology and logistics. The forum was designed to strengthen and develop partnerships between business leaders in Latin America and the Caribbean with their counterparts in Japan and other East Asian countries. The target audiences of the forum were business leaders from Asia and Latin America and Japanese government officials, as well as representatives of the Latin America and Caribbean and East Asian diplomatic corps. “Many of the Canal’s top 10 customers come from Asia and Latin America and as such, this was a perfect opportunity to discuss business synergies and opportunities for closer cooperation and integration between the two regions,” said Dr. Vásquez.

Panamanians will vote on October 22 in a national referendum on the proposed expansion. The project would build a third lane of traffic along the waterway through the construction of a new set of locks, doubling Canal capacity. The expansion will help maximize Panama’s strategic location to become the great maritime hub of the Americas.

About the Panama Canal Authority (ACP) The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP’s Web site: www.pancanal.com.

The Authority's responsibility to the Panamanian people is paramount. The Canal belongs to the people and benefits from the Canal should accrue to as many Panamanians as possible. The Authority will plan its future so that it will continually contribute to the economic development and welfare of the citizens of Panama.

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