China is willing to strengthen cooperation with Myanmar in support of the southeast Asian nation's economic development and improvement of its people's livelihood, Chinese Premier Li Keqiang said Saturday.

Li made the remarks when meeting with Myanmar President Htin Kyaw on the sidelines of the 11th Asia-Europe Meeting (ASEM) Summit in the Mongolian capital.

China and Myanmar, which jointly put forward the Five Principles of Peaceful Co-existence, have deepened good neighborliness based on the principles since they established diplomatic ties 66 years ago, he said.

"China respects Myanmar's sovereignty and territorial integrity and the development path that the Myanmar people have chosen independently in accordance with their national conditions," Li said.

China is ready to work with Myanmar's new government to grasp the big picture of bilateral ties for the long-term, stable and healthy development of their relationship, he added.

Li called on both countries to enhance high-level exchanges, increase mutual political trust, and outline the development of bilateral ties in the new era, saying China and Myanmar have highly complementary economies and great potential for cooperation.

"China is willing to dovetail development strategies with Myanmar and strengthen cooperation in such areas as infrastructure construction, education, healthcare and water conservancy projects to support the economic development and improvement of people's livelihood in Myanmar," he said.

Htin Kyaw, for his part, said Myanmar and China have long upheld the Five Principles of Peaceful Co-existence with bilateral relations continuously moving forward.

Myanmar's new government attaches great importance to developing ties with China and is willing to maintain high-level exchanges, the president said.

He said Myanmar is delighted to see China's achievements in economic and social development and is thankful to China's support and assistance.

Myanmar hopes for more investment from China to help the country improve people's livelihood and benefit the Myanmar people, he noted.