China, as the world's major cargo trade country, is ready to develop a logistics network cooperation with Panama based on its regional advantages, Premier Li Keqiang said on Friday.

Li made the remarks when meeting with Panama's President Juan Carlos Varela in Beijing. The two countries established diplomatic ties in June.

The establishment of diplomatic ties between China and Panama has "initiated a historical chapter for bilateral relations, benefiting the people of both sides", Li said. China is ready to connect the Belt and Road Initiative with Panama's development strategy and deepen mutual beneficial cooperation for long-term and stable bilateral relations, as well as regional and global economic growth.

Efforts also should be made to deepen bilateral friendly exchanges through beneficial and win-win cooperation to bring well-being to the people of both sides, he said.

Varela said Panama highly appreciates China's achievement in development, as well as its influence on the international community. He said Panama stands firm to the one-China principle and is ready to provide more convenience to Chinese companies that invest in Panama.