Panama Canal
Colombia, France, and later the United States controlled the territory surrounding the canal during construction. The US continued to control the canal and surrounding Panama Canal Zone until the 1977 Torrijos–Carter Treaties provided for handover to Panama. After a period of joint American–Panamanian control, in 1999, the canal was taken over by the Panamanian government. It is now managed and operated by the government-owned Panama Canal Authority.
History of Panama
On September 7, 1977, the Torrijos–Carter Treaties were signed by the Panamanian head of state Omar Torrijos and US President Jimmy Carter for the complete transfer of the Canal and the 14 US army bases from the US to Panama by 1999. These treaties also granted the US a perpetual right of military intervention. Certain portions of the Zone and increasing responsibility over the Canal were turned over in the intervening years.