Chinese President Xi Jinping is expected to sign a number of deals covering trade, agriculture and bio-technology during his state visit to Cuba, the last leg of his four-nation Latin America tour.

The trip will mark China's further shift from political ties with its "good friend and good comrade" to economic cooperation, analysts said.

Xi arrived in the capital Havana late Monday and was scheduled to meet with Cuban President Raul Castro on Tuesday, before flying to Santiago de Cuba, the country's second-largest city on Wednesday.

In his first visit to Cuba since taking office, Xi was expected to hold talks with Cuban leader Castro to outline a blueprint for the strategic and long-term development of China-Cuba relations, as well as closing deals on cooperation covering trade, agriculture, bio-technology, culture and education,  the Xinhua News Agency reported.

While highlighting brotherly China-Cuba ties that date back to 1960, Xi said the two countries are now facing a vital moment for economic development.

"I look forward to having in-depth talks with President Raul Castro and other Cuban leaders over bilateral relations and issues of common concern, taking stock of experience in growing the bilateral relationship and charting the course for its future development," said Xi in written remarks released upon arrival, stressing that the two countries are "good friends, comrades and brothers."

After meeting with Castro on Tuesday, Xi is set to visit Santiago de Cuba to see plans to improve port facilities and recovery efforts from Hurricane Sandy, which struck the city in October 2012, according to Reuters.

The Chinese president may also pay a visit to retired revolutionary leader Fidel Castro, 87, who led Cuba for five decades until he stepped aside eight years ago during a health crisis, reported AFP.

Cuba was the first Latin American and Caribbean nation to forge diplomatic relations with post-liberation China in the 1960s, and has since become a close political ally.

"This visit will further strengthen ties between the two countries," said Zhang Jiazhe, a research fellow on Latin America studies with the Shanghai Academy of Social Sciences, adding that based on existing frameworks, new aspects of cooperation are expected to be explored.

Talks over a number of investment projects, including pharmaceuticals and automotive assembly, have reportedly been underway, but no final investment agreements are expected this week, Reuters reported.

China already is Cuba's primary source of credit and second-largest trading partner after Venezuela. Cuba is China's largest partner in the Caribbean, with bilateral annual trade standing at a little less than $2 billion, according to Xinhua.

"While China is deepening its reform, Cuba has begun efforts to revive its economy," said Xu Shicheng, a deputy director of the Chinese Society of Latin American Studies. 

The Cuban government has been phasing in a series of economic reforms in recent years to revitalize its stagnant economy, encouraging enterprises and lifting restrictions on such fields as property use, travel and farming.

This year, Cuba established its first China-inspired special development zone in Mariel and passed a new foreign investment law with a particular eye to friendly nations such as Russia, Brazil and China, reported Reuters.

With this opportunity [of Xi's visit], Cuba hopes China would bring in more investment opportunities and credit allowance, noted the Latin-America expert Xu.

"We want Chinese businessmen to invest in Cuba and partner with Cuban companies," said Cuba's director general for foreign investment, Deborah Rivas.

Coinciding with Xi's trip, about 50 Chinese entrepreneurs traveled to Havana to explore business opportunities, attracted by foreign investment incentives and the future Mariel free trade zone, reported AFP.

But Xu believes it will take time for the private sectors of the two countries to reach concrete deals.

"Stronger efforts are needed to materialize the existing business agreements," noted Xu.

A few cooperation projects China and Cuba signed in the past, in areas including the nickel industry, hotels and hospitals have not been successful, media reports said.

Christopher Sabatini, senior director of policy at the Americas Society and Council of the Americas, told Reuters that the Chinese government has become "pragmatic" and it will not invest in Cuba merely for "ideological" reasons.

A commentary published by Xinhua on Tuesday echoed this point, saying China-Cuba cooperation has shifted from politics to the economy in recent years.

The commentary also criticized the US for its half-century embargo on Cuba.

"Havana's reform drive creates new opportunities for deepening its cooperation with China, and the world's other major economies, especially the US, also need to seriously consider the new developments and rethink their policy toward Cuba," Xinhua said.

The visit marked the last stop of Xi's trip in Latin American countries. He was in Brazil last week for a summit of BRICS nations, then traveled to Argentina and Venezuela, signing a series of multi-billion dollar credit and investment agreements, before concluding his visit in Cuba.

Read more in Special Coverage: