The Panama Canal Authority (ACP) and the Tampa Port Authority (TPA) have signed a renewed Memorandum of Understanding (MOU) to increase cooperation, such as joint marketing, between the Panama Canal and the Port of Tampa. It will also seek to bolster trade along the “All-Water Route,” the route from Asia to the U.S. Gulf Coast via the Panama Canal.
The two entities first signed an MOU in 2005, which was renewed in 2008. The latest agreement is renewable for an additional five years.
In addition, the renewed agreement will also focus on the following areas:
· Data Sharing to forecast future trade flows and market trends;
· Market Studies Exchange that may benefit either party in future product development or business venture;
· Sharing of Information Related to Modernization and Improvement projects that serve as a benefit to business and spur increased demand; and,
· Technological Interchange of advanced technology capabilities and programs to spur cutting-edge initiatives in the shipping and maritime community.