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Partnerships: South Louisiana/Panama Canal Authority

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South Louisiana Port and Panama Canal Authority Renew their Memorandum of Understanding

The Port of South Louisiana and the Panama Canal Authority (ACP) have agreed to an amended version of their memorandum of agreement of January 31, 2013. The amended MOU was signed October 14 by South Louisiana Port Executive Director Paul G. Aucoin and ACP Administrator Jorge Quijano at canal authority headquarters in Panama City.

The original MOU established a cooperative alliance directed at facilitating international trade and generating new business between Asia and the Port of South Louisiana via the Panama Canal. Specifically, the port and ACP agreed to undertake joint marketing initiatives that promote canal trade routings, exchange cargo movement/transit information and results from relevant market studies, and share knowledge regarding improvements or modernization efforts aimed at satisfying increase in demand. The amendment extends the agreement for five years and is renewable by mutual agreement.

According to the port, at least 30 percent of its, exports, mostly grain, are Asia-bound and prime cargos for transit via the canal. 

"It makes total sense to work with the Panama Canal Authority in cross-promoting our respective entities and regions," said Mr. Aucoin. "Our partnership would not only increase revenues, but also encourage job opportunities from the increase in traffic. "Economic growth is the ultimate goal."



Panama Canal Authority Administrator Jorge Quijano left) and Port of South Louisiana Executive Director Paul Aucoin signing the amended MOU at ACP headquarters in Panama City. 

Photo/Port of South Louisiana
 

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