Panama, U.S. state of Mississippi ink port deal

Representatives of the Panama Canal and the Port Authorities of the U.S. state of Mississippi signed an agreement Monday to develop bilateral trade.

"The agreement represents an important opportunity for Panama and Mississippi to strengthen and develop their trade ties," said Alberto Aleman, administrator of the Panama Canal.

The deal aims to develop the water route linking Asia, the U.S. East Coast and the Gulf of Mexico.

It can be renewed every five years depending on the needs and priorities of either side.

Under the agreement, which is part of the Panama Canal's modernization process, its transport capacity will double in the next four years, thus contributing more to international trade.
(Source:xinhua)