Reconstruction of the Panama Canal and its effects on EU trade

1.7.2016

Question for written answer E-005437-16
to the Commission
Rule 130
Andrejs Mamikins (S&D)

The Panama Canal expansion project, which began in 2007 and finished last month, has effectively doubled the Canal’s capacity. The total cost estimates reached EUR 5.25 billion, of which EUR 500 million was provided as a loan by the European Investment Bank.

It should be noted that prior to the Canal’s expansion, 12% of its activity included trade flows to and from Europe. With the reconstruction project finished, this figure, along with the intensity of commercial relations between the Atlantic and Pacific Ocean states, is likely to increase even further.

1. How does the Commission evaluate the potential for growth in the EU’s international trade volumes, particularly with China and other Pacific Ocean states, following the Panama Canal’s reconstruction?

2. Does the Commission support or otherwise implement any projects specifically in the vicinity of the Panama Canal in the field of environment protection (i.e. assessing the dangers of the Canal’s operations, preservation of indigenous species)?

3. What is the Commission’s stance on the usability and potential benefits of other similar transportation routes — the Northwest Passage and the Northeast Passage through the Arctic Ocean, as well as the proposed construction of the Nicaragua Canal?