The Panama Canal Authority (ACP) has signed an agreement with Port Everglades to promote future trade.

Under the terms of the Memorandum of Understanding, both parties will share information on methods of modernisation, initiate joint advertising programmes, data interchange and market analysis.

Port Everglades’ trade through the Panama Canal with the Far East and west coast of South America reached 909,893 short tons in the last year, or 15% of Port Everglades’ containerised cargo throughput.

The ongoing construction of a new set of locks will allow more traffic into the canal, doubling capacity, the ACP said.

The Panama Canal expansion project is scheduled to be complete in 2014.