China’s President Xi Jinping and his Panamanian counterpart Juan Carlos Varela signed a string of cooperation agreements Monday as Beijing aims to extend its political and economic influence in Latin America.
China’s President Xi Jinping and his Panamanian counterpart Juan Carlos Varela signed a string of cooperation agreements Monday as Beijing aims to extend its political and economic influence in Latin America.
Xi arrived in the Central American country late Sunday, fresh from striking a 90-day truce deal in the trade war with US President Donald Trump at the G20 summit in Argentina.
Xi and Varela signed a score of infrastructure, tourism and development cooperation agreements as Panama became the first Latin American country to partner with Beijing’s giant multi-billion dollar global investment initiative known as « Belt and Road. »
Xi’s visit comes after Panama broke ties with Taiwan last year and switched its allegiance to Beijing. Since Panama’s move, two other Central American countries — the Dominican Republic and El Salvador — have made the switch.
« Our bilateral relations have had a strong start after only a year and a half, » Xi said.
Varela said Xi’s visit — and the investment it brought — meant Panama would become « the gateway of China to Latin America.
