The bilateral meeting will serve to "establish a new economic, trade, tourist and diplomatic outlook for the country, leading to more than a dozen agreements that will be signed" between nations, Panama's Foreign Ministry said in a statement.

In June, Panama upgraded its commercial ties with China and established full diplomatic links with the second most important customer of its key shipping canal, giving Beijing a major victory as it broke formal relations with Taiwan.

The Foreign Ministry said the agreements will provide the basis for attracting investments and Chinese innovation to Panama, and help boost Panamanian exports, tourism and the use of the Panama canal.

Varela will inaugurate Panama's first embassy in China.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android