Welcome to the Panama Weekly News Roundup! Here鈥檚 the latest.
Take a look at the Panama Canal’s historic transformation
This past week, Panama reached another major milestone with the opening of the expanded Panama Canal. It took two years longer than expected, but in the end, the Canal opened to much fanfare, international excitement, and Panamanian pride. Check out these great photos of the transformation of the Canal as it progressed.
However, if you thought the recent project may have been wrought with聽, imagine what the original engineers were faced with over a century ago. Initially started by the French, after facing hundreds of deaths from the workers due to yellow fever and other聽, the US took over the ambitious project before handing it over to the Panamanians.
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Jamaica, Panama Sign Cooperation Framework Agreement
Taking advantage of a busy week with international dignitaries in town for the Panama Canal Expansion inauguration, leaders of Jamaica and Panama got together to sign a cooperation framework agreement this past week. The agreement will aid in both trade, and humanitarian issues, as well as strengthening diplomatic bonds between the two nations.
Prime Minister, the Most Hon. Andrew Holness listened to聽Vice President of Panama, Isabel Saint Malo, 聽after she signed the Cooperation Framework Agreement with Minister of聽 Foreign Affairs and Foreign Trade, Senator the Hon. Kamina Johnson Smith, in Panama City, on June 26.
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Venezuelans living in Panama follow turmoil at home
With a huge representation of immigrants in Panama, many Venezuelans are trying to stay positive as they watch the turmoil at home. Panama鈥檚 Venezuelan community is diverse, vibrant, and critical to many businesses and investments. There are an estimated 150,000 Venezuelans living in Panama, and they remain closely connected to what鈥檚 going on in their home country.
Father William Rodriguez, a popular priest in this community, came from Venezuela four years ago. 鈥淚t enrages me. I feel helpless, watching what鈥檚 happening and seeing it get worse. And the world doesn鈥檛 listen. They don鈥檛 hear the pain of the people,鈥漵aid the father. Staying connected is now easier than ever. The younger arrivals use newer technologies.
鈥淣aturally, I cry like a baby. It鈥檚 your mother, your grandmothers, your nephews that are over there. It鈥檚 people you love, that are hungry and suffering. And they鈥檙e having a rough time. And that鈥檚 depressing,鈥 said Alejandro Riera, Venezuelan Immigrant to Panama.
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Panama whips the curtain aside on newly expanded canal
This week, the Panama Canal Expansion finally opened, and the world鈥檚 eyes were once again on the Isthmus. Here are some details you should know, about the economic impact that then newly expanded Canal will make.
Panama hopes it will double the volume of goods passing through the canal over the next decade, up from 300 million tonnes currently, and boost revenue from shipping fees from the $1 billion the country collects now.
The canal already accounts for five percent of the world’s maritime commercial traffic. The United States and China are its two biggest customers. “With the expanded canal, tax revenues will rise, which will also boost other sectors of activity,” predicted Nicolas Ardito Barletta, a former Panamanian President and former Vice President of the World Bank in Latin America.
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