Panama is already a leading player in world logistics, and most of its assets "provide excellent results individually, but lack a collective sense."
There is a lack of performance as a team. Connection among railways, roads and port system has not been completed and there is lack of integration between Tocumen Airport and the Colon Free Zone.
"The interruption during the connecting process creates bottlenecks which delay delivery of goods" noted an article in Martesfinanciero.com, "The master program in engineering and management in supply chain by Universidad Latina and Tecnológica de Panamá, in partnership with the University of Georgia Tech and Senacyt, could be the standard to follow if successful."
It also points out the opportunity in offering logistic services tailored to the needs of neighboring economies, considering that so far the main customer for the Panama Canal is the U.S.
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The homogenization of logistics processes in the isthmus under "a regional vision" would improve competitiveness and increase trade volumes.
Central America could improve its competitiveness and increase trade volumes with the unification of criteria for logistics processes under "a regional vision," said an expert from the International Finance Corporation (IFC).
Technical studies are to be carried out to determine the feasibility of building an intermodal 'dry canal' between Puerto Armuelles, in the Pacific, and a complementary port in Bocas del Toro, in the Atlantic.
The Panama Maritime Authority has announced that it will be focusing first on the study to determine the most feasible business model for the project.
Both governments announced that they have signed an agreement to unify customs in order to expedite the transport of vehicles and people, with effect from 1 June.
With this agreement, it is expected that the border between the two nations will be fully liberated for both freight and passengers in December. Immigration procedures will be carried out online or in an office to be located near the border area.
This center will be inaugurated on August 20th with three business roundtables.
The new TIP Center in Costa Rica is the latest addition to a network of centers around the world established by the Georgia Institute of Technology (Georgia Tech) that utilize research, innovation, and education.