During August, the opening of the Canal is commemorated specifically on the 16th of this month. In its 106 years of operation, its validity has been strengthened, even today in the midst of a previous global health crisis. Its role as a global trade facilitator has allowed it to ensure continuous and safe service during the current pandemic, while at the same time keeping focus towards its main future challenge: water.
Signing of the Torrijos-Carter Treaties
In 1903 the Hay-Bunau Varilla Treaty was signed, which created problems between the United States and Panama. Despite the 1936 and 1955 revisions, the conditions imposed did not satisfy Panamanian interests. In addition, the Martyrs’ Day events led to the breaking of diplomatic relations between the United States and Panama, forcing the negotiation of a new treaty.
When the revolutionary leader General Omar Torrijos becomes the highest authority of the government, he proposes the recovery of the canal’s sovereignty as Panama’s main goal. After an arduous struggle to obtain international support, very complex negotiations began and ended with the signing of the Torrijos-Carter treaty on September 7, 1977. Since its implementation in 2000, this treaty has generated economic development for the country.
