The Maryland Port Administration (MPA) today announced the recent signing of a Memorandum of Understanding agreement with the Suez Canal Authority that will establish information-sharing aimed at using the Suez Canal to generate new business for the Port of Baltimore.

According to a Maryland Port Administration press release, under the agreement, the Port of Baltimore and the Suez Canal Authority can begin joint marketing efforts to generate new shipping business, share data that may be helpful in forecasting future trade flows, and exchange information on training programs.

“With the Panama Canal near capacity, the Suez Canal will play a much larger role for U.S. East Coast-bound goods coming from Asia and the Far East,” said MPA Director of Marketing Richard Powers. “This agreement shows our desire to have a good, close working relationship with the Suez Canal Authority as their importance to the East Coast supply chain grows.”