The Panama Canal signed a Memorandum of Understanding (MoU) with the Port of Rotterdam on promoting international trade between EU and the West Coast of South Africa.
Both parties will be able to exchange expertise and knowledge on their technological capabilities, aiming at implementing digital tools and applications to enhance transport efficiency and cost reduction. The MoU includes the exchange of market studies, transit data and modernizations plans, as well as joint training programs, studies and marketing activities between the two parties.
Moreover, the MoU will enable the two parties to optimise operations and boost the economic development and the exchange of information on new business development steps.
In light of the cooperation, Vice President for Complementary Businesses Rafael Pirro commented
"The Expanded Canal continues to reshape global trade routes today, reinforcing our position as the logistics hub of the Americas."
The signing follows the continued development that the Panama Canal is experiencing, as the Canal and UN Environment signed a cooperation agreement to join efforts on sustainable development and combating climate change.
The two partners have already partnered as members of the Global Industry Alliance, which aims to enhance energy efficiency and reduce GHG emissions in international shipping.
Located in the Netherlands, the Port of Rotterdam is not only an important transshipment hub, but also Europe’s largest port—in 2018, the Port handled 468 million tons of cargo in Rotterdam alone.