Secretary of State Rice Hails Strong U.S. Relationship with Panama
The Panama Canal, now being widened to make the waterway even more competitive in the global market, is a prime example “of how friendly states can make potential sources of conflict a source of cooperation,” according to U.S. Secretary of State Condoleezza Rice.

In hailing the excellent U.S.-Panama relationship June 4, Rice said the Panama Canal Treaty has been a “great success” for commerce in the Western Hemisphere and around the world. That treaty, signed in September 1977, transferred control of the canal from the United States to Panama in 2000.

Rice told the 37th General Assembly meeting of the Organization of American States (OAS) in Panama City, Panama, that the Central American nation has provided “excellent administration” of the canal since 2000.

In October 2006, Panamanian voters approved the largest modernization project in the canal's 93-year history. The multibillion-dollar expansion will allow the world's largest ships to fit through the passageway, which links the Atlantic and Pacific oceans. The expansion is scheduled to be completed in 2014.

Speaking prior to her meeting with Panamanian President Martin Torrijos, Rice said she hoped the U.S. Congress would ratify a free-trade pact with Panama that will put the two countries’ bilateral relationship “on an even more sound footing.”