Panamá backs Chinese 'Belt and Road'

Panama sees a "big opportunity" in China's massive "Belt and Road" infrastructure initiative, President Juan Carlos Varela said during a visit to Hong Kong amid ambitious plans and proposals for Chinese-built bridges and rail lines.

Varela said the initiative, which aims to weave a network of ports, bridges and power plants linking China with Africa, Europe and beyond, is a chance to exploit Panama's potential as a link between Asia and the Americas.

"The Belt and Road is all about connectivity and Panama is one of the most connected countries in the region. We have a very important airport, the Panama Canal and also the ports," Varela told reporters, Fox Business reports.