BEIJING, May 7 (Xinhua) -- China on Tuesday congratulated Laurentino Cortizo on his election as president of Panama.

The Chinese side warmly congratulates Cortizo on his election as the new president of Panama, Foreign Ministry spokesperson Geng Shuang said at a news briefing, adding China believes that under Cortizo's leadership the national development of Panama will make new strides.

"Panama is an important country in Central America," Geng said, noting that over the past 23 months since the establishment of diplomatic ties between the two countries on the basis of the one-China principle, their bilateral relations have achieved remarkable progress, with all-around cooperation yielding fruitful outcomes.

China highly values its ties with Panama and is willing to work with Panama to deepen mutual trust and cooperation under the principles of mutual respect, equality, mutual benefit and non-interference in each other's domestic affairs, to ensure the sound and steady development of bilateral relations, thus delivering benefits to the two countries and peoples, said the spokesperson.

According to reports, Panama's electoral tribunal on Sunday declared the Democratic Revolutionary Party candidate Cortizo the winner of the country's presidential elections.