Port of Galveston signs MOU with Panama Canal Authority

Wednesday, October 27 2010 @ 08:54 PM UTC

Contributed by: Don Winner

By Barrett Goldsmith (Houston Business Journal) - The Panama Canal Authority said Wednesday that it had signed a memorandum of understanding with the Port of Galveston to improve trade along the route between Asia and the United States. At a ceremony in Panama City, Alberto Zubieta, the authority's chief executive and administrator, and Port of Galveston Director Steven Cernak signed the MOU to “facilitate international trade and generate new business by promoting the All-Water Route,” according to a release. The MOU spells out initiatives for joint marketing, data exchange, collaborative market studies, modernization, improvements, mutual training and technological interchange between the two entities. “As the ‘gateway to the Gulf,’ the Port of Galveston facilitates the movement of a varied mix of domestic and international cargo generating an economic impact of more than $1 billion for the state of Texas,” Cernak said at the signing ceremony. “We, too, look forward to this new partnership with the ACP and the opportunities it will bring for continued fiscal growth and viability for both Panama and Texas."

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