A Global And Sustainable Enterprise Is The Ultimate Goal Of Panama's Canal -

(MENAFN- Newsroom Panama) Every year, about 5% of global trade passes through the Panama Canal, contributing 7.7% to Panama's GDP in 2022, according to the Inter-American Development Bank (IDB). In the latest episode of A Spotlight to Panama, a YouTube series highlighting Panama's unique contributions, the Panamanian communicator Ana Patricia Hassan sits down with Dazzell Marshall, a historian at the Miraflores Visitor Center, to discuss the Canal's expansion, its evolution since Panama assumed control, and how this engineering marvel is driving sustainable global trade.“One of the primary challenges was demonstrating that Panamanians were capable of managing such a massive enterprise,” explains Marshall to Ana Patricia, reflecting on the handover of the Canal from the United States to Panama.

He also highlights how the Canal has become a commercial powerhouse, injecting $2.4 billion into Panama's economy last year alone. A key milestone in Panama's stewardship was the 2016 inauguration of the new locks, which enabled the passage of larger vessels, increasing capacity from 5,000 to 17,000 containers per ship. These expansions now generate over 55% of the Canal's revenue, emphasizing the importance of cargo volume. Another major focus of the episode is the Canal's sustainability efforts. Since the expansion, the Canal has surpassed transit expectations while leading in environmental innovation. The new lock system, which lifts ships using 60% less water, has been pivotal in conserving resources. Additionally, since its opening in 1914, the Canal has helped reduce global CO2 emissions by shortening voyage distances, allowing ships to save time and fuel. For those interested in exploring the transformative impact of the Panama Canal, you can watch the episode here.

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