Context: The US President-elect Donald Trump criticised the current management of the Panama Canal, called the ‘Panama Treaty’ foolish and intended to regain the Panama Canal.
Relevance of the Topic: Prelims: Map based questions in Prelims on Straits and Canals.
About Panama Canal
- Panama Canal is a man-made sea route that connects the Atlantic Ocean and the Pacific Ocean.
- The approximately 80 km long canal is constructed across the Isthmus of Panama, Panama Country. It was constructed by the US and officially opened in 1914.
- The canal is one of the major choke points of the world. It handles the 6% maritime trade volume of the world, and significantly reduces the cost, time and distance for international trade.
Transfer of Panama Canal to Panama:
- The Panama Treaty, also known as the Torrijos-Carter Treaties, was signed between the US and Panama in 1977 to hand over the canal to Panama in a phased manner.
- Transfer of Control: The Canal was turned over to Panama on December 31, 1999.