New megaport plan aims to expand Panama’s pacific trade

Panama’s President José Raúl Mulino has announced plans to build a Pacific megaport to strengthen the country’s role in global trade alongside the Panama Canal, which currently handles 5% of the world’s maritime traffic.

Mulino said the port would position Panama as a key player in Pacific logistics and noted that major shipping companies have shown interest in the project. He emphasized that the country already moves significant cargo through the canal, and a large-scale port would complete the logistics chain.

He also dismissed recent U.S. media reports claiming the White House ordered military options to retake control of the canal, calling the story unverified and lacking credible sources.

The announcement comes as Panama seeks to expand its logistics footprint, while the Panama Canal Authority explores a separate project to build a gas pipeline across the isthmus.

source: panamanowonline.com

photo: panamaadvisoryinternationalgroup.com