The Panama Canal Authority (ACP) and the Georgia Ports Authority, which owns and operates the Port of Savannah, renewed their ties Wednesday with the signing of a memorandum of understanding. The MOU, renewable for five years, was first signed in July 2003 and aims to unify efforts to encourage mutual economic benefits.

“Considering the importance of the Port of Savannah and its Savannah Harbor Expansion Project in the logistics chain and in the ‘All-Water Route,’ we are honored and pleased to renew our alliance with the Georgia Ports Authority and look forward to seeing their infrastructure project completed and continuing our partnership,” said ACP Administrator/CEO Alberto Alemán Zubieta.

Areas of cooperation between the ACP and the GPA include, among others, information-sharing, joint marketing efforts, exchange of data, capital improvement plans, training and technology. The partnership also supports promotional efforts of the “All-Water Route,” the route from Asia to the U.S. East Coast via the Panama Canal.

Georgia stands to benefit from the waterway’s expansion, which is slated for completion in 2014.