From a statement issued by the Presidency of Panama:

Panama reaffirms its leadership in merchant marine matters by receiving the status of "Most Favored Nation", with which vessels under their registry will receive benefits in port tariffs and preferential treatment in ports in the People's Republic of China.

This was stated in the maritime cooperation agreement signed within the framework of the first official visit by President Juan Carlos Varela, after the establishment of diplomatic relations with China on June 13.  Both countries signed another 18 agreements related to financial, commercial, logistics and cooperation matters. 

Read full release (in Spanish).

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