>Singapore’s Minister for Foreign Affairs, George Yeo, has backed Panama’s ambitious plans for a major expansion of the Panama Canal.
>During a recent visit to Panama he said: “The Panama Canal expansion is important not just for Panama but for the entire (maritime) industry - for the global economy.”
Mr. Yeo travelled to Panama as part of an official delegation, which also included Panamanian Ambassador to Singapore Eduardo Real. Earlier this year, Singapore signed a Free Trade Agreement with Panama.
Foreign Minister Yeo told Minister of Panama Canal Affairs, Dr. Ricaurte Vásquez: “Singapore is a maritime hub. We live on trade. And the more open the world is to free movement of ships, the better it is for Singapore. We hope that you widen the Canal because it is good for the overall system.”
Panamanians will vote on October 22 in a national referendum on the proposed expansion. The project would build a third lane of traffic along the waterway through the construction of a new set of locks, doubling Canal capacity.
The expansion would help maximize Panama’s strategic location to become the great maritime hub of the Americas.
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Source: VIP Panama
July 23rd, 2008 at 3:33 pm
Singapore’s Minister for Foreign Affairs, George Yeo’s statement, that Panama Canal expansion is important not just for Panama but for the entire (maritime) industry - for the global economy; is really pointful! But I hope that the can really benefit to the people in Panama especially to the poor..