Panama Strengthens Canal Neutrality, Ensures Safe Passage for All Vessels
(MENAFN) Panama reiterated its dedication to maintaining the Panama Canal’s neutrality, ensuring that it remains open to global shipping both in peace and wartime. This statement came from Carlos Hoyos, Panama's Vice Minister for Foreign Affairs, on Tuesday.
"Panama, as sovereign administrator of the Panama Canal, solemnly declares that the canal, as a waterway for international transit, will be permanently neutral so that, both in times of peace and war, the canal remains safe and open for the peaceful transit of all ships around the world under conditions of complete equality and without discrimination of any kind," Hoyos stated, speaking at a UN Security Council debate on maritime security.
Hoyos also highlighted that over 8,800 ships, representing 15% of the global fleet, fly Panama's flag, benefiting from advantages such as low costs.
In addition, the Panama Maritime Authority has strengthened efforts to maintain the integrity of its merchant fleet, implementing a strict zero-tolerance policy to prevent misuse of its flag and protect its registry’s reputation.
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