Nearly 100 years after a model of the Panama Canal was
unveiled at the Panama-Pacific World Fair in San Francisco, the 48
mile, man made waterway connecting the Atlantic and Pacific Oceans
stands both as a hub and gateway for world transport and trade.
The Caribbean region is the
most important for world trade. The increase in Cargo volumes that is
expected after the expansion of the Panama Canal, represents a real
possibility for capturing a greater part of the market.
The dynamics of world trade
are expected to change significantly once a project to increase the
width and depth of the Panama Canal is completed in 2015.
The expansion project has been carried out to meet a
sustained increase in international trade and a rise in demand for
movements through the canal.
The number of shipping containers aboard freighters
using the canal has risen from 200,000 in 1995 to 6.6 million in
2011.
International trade is
expected to continue to grow substantially during the next two
decades, at rates higher than the growth rate of the main world
economies.
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