Click here for the presentation by Marianela Dengo, Manager of the Strategic Relations Management Section, Panama Canal Authority.
Lyceum Members: Click here to register.
Additional information can be found at this site and on this Panama Travel Helper.
Texas ports provide jobs for 1.4 million Texans and contribute $2.4 billion in state and local taxes. Texas leads the United States in goods exports and waterborne commerce, which expand the Texas brand globally. Ports are vital to the economic strategy of Texas and maintaining a competitive edge is essential in long-term economic opportunity for Texans.
While Texas prospers from the port industry, there are over 360 different ports throughout the United States. Currently, 37% of total U.S. imports are from China, and California ports (Los Angeles and Long Beach) own 70% of the total market share. Ports generate substantial international business opportunities, and the West Coast has long dominated relationships with Asia.
The Panama Canal is currently undergoing substantial expansion to increase traffic flow and lower shipping costs across the globe. The expansion will double the Panama Canal’s current capacity, allowing larger ships (1,200-foot vessels) that carry cargo three times as great as previous trips. The Panama Canal only handles 20% of Asian imports, but the expansion of the canal provides an opportunity for increased traffic through Panama and creates new business opportunities for companies suffering from the current shipping “back log” experienced on the West Coast.
Texas has the opportunity to expand its business ties with the Asian market, yet two key issues need to be addressed:
• Do Texas ports have the infrastructure to deal with the larger vessels?
• How can Texas partner with Panama to increase shipping traffic between Texas and Asia?
Join the Texas Lyceum as we focus on both issues critical to the success and long-term viability of the Texas economy. The Panama Canal is expanding opportunities for the State of Texas, and do not miss the opportunity to help our state maximize the opportunity.
Thank you to our sponsors:
Thanks also to Dan Sanchez, Cameron County Commissioner.