Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal. With this agreement, the Panama Canal looks to promote the use of the Panamax Locks for grain transits originating in northern Brazil and traveling to markets in Asia.
The agreement, which was signed by Panama Canal Administrator Jorge L. Quijano and Maranhão Port Administration Company President Ted Lago, will allow the Panama Canal and Port of Itaqui to conduct joint marketing activities and exchange market studies and information on trade flows to support modernization and improvement programs.
Brazil ranks among the top producers of grains worldwide. In 2017, the Port of Itaqui moved 19.1 million tons of cargo.