Caribbean region urged to exploit Panama Canal

Caribbean countries are being urged to position themselves to take advantage of greater trading opportunities that may derive when the Panama Canal Expansion project is completed and commissioned by the first quarter of 2016.

Rodolfo Sabonge, expert external adviser for the U.S.-based management consulting firm McKensey & Company, said there is already competition among Caribbean islands as to where that transshipment  point should be.

“It would be where there are other services and cluster activity, maybe in the maritime sector that would be able to contribute an added value to the shipping lines,” Sabonge said.

Source: Trinidad & Tobago Guardian