China-Panama Ties: Presidents Xi, Varela strengthen relations with state visit

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01:51

We start with Chinese President Xi Jinping's tour in Latin America and Europe. Trade, tourism and technology have topped the agenda as President Xi became the first Chinese head of state to visit Panama. The two sides spent the day working to foster stronger bilateral ties, just one year after establishing relations. CGTN's Roee Ruttenberg has more from Panama City.

Even before arriving in Panama for the first time ever, Xi Jinping, the Chinese President, said he's no stranger to the country.

And though diplomatic relations were established just 18 months ago, President Juan Carlos Varela greeted Xi like a familiar friend.

The two leaders oversaw the signing of a series of agreements, covering everything from e-commerce, to trade and tourism, banking, and student exchanges.

Panama, a country of just four million people, has seen a significant increase in Chinese investment. Chinese firms are winning more and more tenders for big projects. And most expect there's more to come.

Xi Jinping said this visit will lay the groundwork for long-term bilateral cooperation.

Panama was the first Latin American country to sign on to China's Belt and Road Initiative. Xi sees its Canal, which he toured on Monday, as integral for Chinese shipments, bound for the Caribbean and the eastern shores of the Americas.

Washington, which first built, then occupied the Canal for decades, has warned Panama against losing its sovereignty over the passage to China, a suggestion Xi on Monday rebuked.

ROEE RUTTENBERG PANAMA CITY "This was a short visit, just one full day. But by all accounts, it was a long time in the making. China is now officially here, and it plans to stay. Roee Ruttenberg, CGTN, in Panama City, Panama."