The Barbados Port Inc. (BPI) finalised a memorandum of understanding (MoU) last Friday with the Panama Maritime Authority geared at deepening trade, commercial linkages, and fostering mutual economic growth between Barbados and Panama.
The MoU aims to establish a framework that leverages Barbados’ geographic position as a transshipment hub, bridging Panama and the Latin American region with Africa. It also aims to facilitate the promotion of commercial opportunities that may be of mutual benefit, allowing for the exchange of information and best practices as well as creating opportunities for training and technical expertise exchanges. The agreement also focuses on sustainable trade, innovation, and environmental stewardship in the maritime sector.
Chief Executive Officer of the BPI, David Jean-Marie, signed the MoU during a ceremony, which was witnessed by Acting Minister of Tourism and International Transport, Senator Lisa Cummins, and Panama’s Minister of Foreign Affairs, Javier Martínez-Acha.
Minister Cummins described the signing of the MoU as building on the friendship between Barbados and Panama and highlighted the importance of their ancestral ties. She said the agreement strengthens their bilateral ties and provides opportunities for cooperation on initiatives aimed at accelerating the Port’s development into a green maritime hub.
“So, there’s a historical relationship that exists between us, and now we want to be able to leverage that; leverage the relationships with the diaspora, leverage the relationships with our business community, leverage the relationships with our commercial partners, and to be able to bring real and meaningful benefits to our two countries through this agreement…. I am looking forward to its implementation,” Senator Cummins said.
She also thanked the Barbados Port Inc. and the team from Panama for their work on the MoU.
Minister Martínez-Acha, who also spoke of the historical ties between Panama and Barbados, expressed his government’s commitment to fostering stronger commercial connections between the two countries and enhancing relations between the two ports, particularly in the areas of knowledge transfer and information exchange. He further emphasised the importance of the agreement to leverage the strategic positioning of Barbados and Panama in connecting the African continent to Latin America.
“This small step that we’re taking here is a huge step because we’re planning, we are envisioning the connectivity of Africa, the Caribbean, Central and South America, and even to Asia. We need to dream big,” Martínez-Acha stated.
Following the signing of the MoU, Panama’s Foreign Minister and his delegation were taken on a guided tour of the Port of Bridgetown by BPI’s Divisional Manager, Operations, Ian Stewart, where they had a first-hand look at the current infrastructure and ongoing work on Berth 6. They were also told of the plans to further modernise the Port, making it a resilient and sustainable hub.
Also in attendance were Barbados’ Ambassador to Panama, Amanda Martinez; acting Permanent Secretary (International Transport), Jamar White; and Panama’s Ambassador to Barbados, Xiomara Pérez Rodriguez.
Barbados established diplomatic relations with the Republic of Panama in August 1975.
(BGIS)
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