Panamanian President José Raúl Mulino has proposed the development of a megaport on the Pacific to enhance the Panama Canal's operations. This announcement comes amid reports of U.S. military strategies concerning the canal. President Donald Trump's remarks about potentially reclaiming the canal have impacted U.S.-Panama relations. An NBC News report suggested that the U.S. Armed Forces were tasked with formulating options related to this issue.
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Mulino addressed these claims, emphasizing the strategic importance of a new port facility. He stated, "What's moving globally is the Pacific. We're playing a small role there. What we want is precisely to move toward a port facility, a mega port facility, that will allow us to be a major player in that business segment." He highlighted the canal's role in global trade, handling 5% of maritime commerce, and its potential synergy with the proposed port.
Engagements with international shipping leaders have indicated interest in Panama's port potential. Mulino remarked, "If any port operator of this level were to have that port in Panama, it would close the loop, and we'd be playing in a different league." He downplayed reports of U.S. Southern Command's alleged canal recovery plans, noting the lack of credible sources.
The Panama Canal Authority (ACP) is also exploring business expansion, including a gas pipeline across the isthmus. Amidst these developments, a Hong Kong company managing two canal-access ports announced plans to divest its stake to a U.S. investment fund.
Source: Datamar News