Li made the remarks while meeting with visiting Mongolian President Tsakhia Elbegdorj on Nov 11 at the Great Hall of the People in Beijing.
The Chinese government attaches great importance to the relationship with Mongolia, and China respects the development path chosen by the Mongolian people, Li said.
Elbegdorj began his China visit on Nov 9 in Xi'an, capital of Shaanxi province and the start of the ancient Silk Road.
The Premier mentioned the meeting between President Xi Jinping and Elbegdorj on Nov 10, saying that China is willing to maintain high-level communications with Mongolia, enhance exchanges in all aspects, and strengthen coordination in international and regional affairs.
China is willing to work with Mongolia to achieve fruitful goals during the Asia Europe Meeting to be hosted by Mongolia next year, Li said.
He pointed out that the global economy is fluctuating continuously, and developing countries should work hand-in-hand to deal with the pressure of economic slowdown.
China is willing to enhance production capacity cooperation with Mongolia, offer a hand in resources exploration, infrastructure construction and industrialization, achieve win-win results, and transfer the political consensus to more practical results, Li said.
Elbegdorj said the two countries have been implementing the consensus reached by the leaders and cooperation in all areas has been enhanced.
Mongolia is willing to make full use of the cooperative mechanism between the countries, enhance cooperation in energy and resources and livestock trade, push forward cooperation in big projects including hydropower, enhance finance and investment cooperation, try to start free trade pact negotiation, and enhance construction of cross-border economic zone and transportation, Elbegdorj said.
While meeting with Elbegdorj on Tuesday, President Xi Jinping suggested on Tuesday that the two governments should work out an agreement on the details of integrating China's Belt and Road Initiative with Mongolia's Steppe Road plan.
