(Portworld) The Panama Canal Authority (ACP) has signed a partnership agreement with the Port of Galveston which aims to generate new business and promote international trade by promoting the ‘All Water Route’.
The route, from Asia to the US East and Gulf Coasts via the Panama Canal, will sustain economic growth and generate new business and job opportunities for both the ACP and the Port of Galveston.
The alliance was signed at Panama City on October 26, 2010 as a Memorandum of Understanding (MOU) by ACP chief executive officer Alberto Alemán Zubieta and Port of Galveston Director Steven M. Cernak.
“Today’s MOU signing further emphasises our commitment to provide quality service and meet the demands of the global trade and cruise industries,” said Alemán Zubieta.
“We look forward to building upon our existing relationship with the Port of Galveston, which is a strategic geographic partner located only nine miles from the open Gulf of Mexico. We will work to maximise this agreement to continue providing innovative solutions for our customers and promoting growth for our respective regions.”
The MOU includes initiatives in joint marketing, data interchange, market studies, modernisation and improvements, training and technological interchange. Collaborative activities could include joint advertising, cross-training, or information-sharing regarding select trade-related data and forecasting, according to ACP.
The two entities will also undertake a series of activities aimed at improving customer service and business practices.
“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 annually to the State of Texas,” said Cernak. “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.”
The MOU signed by the ACP and the Port of Galveston is valid for two years and is renewable upon mutual agreement.