Suez, Panama canals explore closer cooperation on trade, supply chains

The Suez and Panama canals are seeking to deepen cooperation in marketing, training, and information exchange as geopolitical and environmental challenges disrupt global shipping and supply chains, the Suez Canal Authority (SCA) said on Monday.

SCA Chairman Osama Rabie met Panama’s Ambassador to Egypt Ricardo Isaza at the authority’s headquarters in Ismailia to discuss ways to strengthen cooperation between the two major maritime routes.

Closer coordination among major maritime stakeholders is important to maintain the smooth flow of shipping through global waterways and strengthen supply-chain resilience, Rabie said.

The SCA is ready to strengthen its partnership with the Panama Canal by exchanging expertise and exploring new areas of cooperation, citing similarities and shared interests between the two waterways, he said.

Crisis management has become an integral part of the authority’s institutional strategy as regional and international challenges increasingly affect global trade passing through the canal, Rabie said.

The authority has also diversified its revenue sources by localising the construction of marine vessels at shipyards and companies affiliated with it, and by introducing new maritime and logistics services, he said.

Isaza said Panama was keen to expand future cooperation and exchange expertise with the Suez Canal in areas including marketing, training, and information sharing.

The two countries’ shared interest in deepening cooperation could lead to further collaboration between the two canals, he said.

The Panama Canal remains a key pillar of global supply-chain resilience and faces challenges similar to those confronting the Suez Canal as the maritime transport industry changes, Isaza said.

The Suez and Panama canals are among the world’s major maritime trade routes, linking key shipping markets and serving as critical links in global supply chains.

Monday’s talks follow an earlier push by the SCA to strengthen ties with Panama. Rabie previously discussed expanding cooperation with Ahmed Fawzy El Sherif, Egypt’s incoming ambassador to Panama, including the exchange of expertise and experience between the two countries.