PANAMA CITY, May 20 (Xinhua) -- Panama reaffirmed its commitment to preserving the neutrality of the Panama Canal for all ships from around the world in peacetime and times of conflict, Panama's Vice Minister for Foreign Affairs Carlos Hoyos said Tuesday.

"Panama, as sovereign administrator of the Panama Canal, solemnly declares that the canal, as a waterway for international transit, will be permanently neutral so that, both in times of peace and war, the canal remains safe and open for the peaceful transit of all ships around the world under conditions of complete equality and without discrimination of any kind," Hoyos said during a debate on strengthening maritime security at the UN Security Council.

Hoyos added that more than 8,800 vessels, or 15 percent of the international fleet, sail under Panama's flag system, which offers such advantages as low costs.

The Panama Maritime Authority has redoubled efforts to clean up its merchant fleet through a zero-tolerance policy against the misuse of its flag to protect the registry's reputation, the vice minister said. ■