The Panama Canal Authority (ACP) and Tennessee-Tombigbee Waterway (TTW) signed an MOU to foster economic growth, spur international trade and promote the "all-water route" running from Asia to the US east and Gulf coasts via the Panama Canal, ACP reported in a release.
Renewable after two years, the ACP-TTW agreement will allow for joint marketing ventures, information sharing and technological interchange, the report said.
Based in Columbus, Mississippi, TTW members are the states of Alabama, Kentucky, Mississippi and Tennessee.
The ACP-TTW agreement builds upon previously signed pacts between the ACP and the Alabama State Port Authority, as well as the Mississippi State Port Authority at Gulfport. Now, two new states will be engaged in the Panamanian economic partnership.
The signing ceremony was held in Point Clear, Alabama.