The MoU comes as the Port of Liverpool gears up for the formal opening of its Liverpool2 container terminal in early November.
High profile Panamanian government and business leaders including Roberto Roy, minister of the canal, and Alejandro Moreno, deputy administrator of Panama Maritime Authority were shown around the port by Peel Ports’ chief operating officer Gary Hodgson.
The formal agreement creates a strategic alliance aimed at facilitating international trade and generating new business by promoting trade routes between Liverpool and the west coast of South America via the Panama Canal.
Whitworth said: “Liverpool and Panama have both responded to the growth of the global container ship fleet with major investment programmes in recent years to accommodate newer generations of container ships. The opening of the expanded canal has the potential to open up new markets for trade and has the potential to shift international trade patterns.
“We see exciting times ahead for Liverpool with improved trade connectivity and business opportunities between the UK and South America, which will not only generate economic growth but also create jobs and increase revenues.”
In June this year, Peel Ports’ executives were VIP guests of the Mayor of Panama during the inauguration ceremony of the newly expanded Panama Canal. During the visit they met key Panamanian political and business leaders as part of the canal expansion event, hosted by the Ministry of Foreign Affairs and the Panama Canal Authority.