Full coverage: Premier Li Attends UN Conferences, Visits Canada and Cuba

The first visit to Cuba by a Chinese Premier in half a century. Li Keqiang met the country's president Raul Castro in Havana, where he pledged China's support in areas such as industrialization, infrastructure development, trade and investment. President Castro, meanwhile, said that Cuba is replicating elements of China’s path to economic growth, as it seeks to "catch-up" after years in the wilderness.

Premier Li Keqiang and Cuban President Raul Castro wave during their meeting at Havana's Revolution Palace, in Cuba, on Saturday. Huang Jingwen / Xinhua

This visit by China's Premier Li Keqiang comes at a time when President Raul Castro has launched Cuba's first market reforms.

The large number of agreements signed on both Saturday and Sunday show that China is committed to helping the island's economic development.

One key area for Cuba is its sophisticated biotechnology and pharmaceutical sector. On Sunday the two sides signed agreements for China to further finance research, manufacturing and marketing of Cuban products.

"This cooperation between Cuba and China in biotechnology has been there for over a decade. Now this opens much greater potential," Xu Shaoshi, chairman of China's National Council For Dev't, said.

"For our country this offers a possibility of income and ability to contribute to Cuba's development and to the health of both the Chinese and Cuban people," Antonio Carricarte, vice minister of Foreign Grade & Investment, said.

Cuba is a relatively untapped market which Chinese entrepreneurs hope could provide new opportunities before the Americans get here.

Li's final official engagement is a gala show at Havana's Grand Theater. He returns to China on Monday having further strengthened what is already a comprehensive strategic partnership.