Myanmar President U Thein Sein said on Monday that the ongoing China-Myanmar oil and gas pipeline project, which is nearing completion this year, is an important and mutually beneficial cooperation project.

U Thein Sein made the remarks when meeting with Liao Yongyuan, general mangaer of the China National Petroleum Corporation (CNPC).

He said Myanmar is now opening up in all directions, but still will continue to maintain China-Myanmar friendship and strive to enhance the neighborly, friendly and cooperative ties between the two countries.

He expressed welcome for Chinese companies to invest in Myanmar and set up oil refinery plant, among others.

Liao said CNPC has as always attached importance to and fulfilled its social responsibility in the course of the pipeline construction, as reflected by the construction of a number of school buildings and clinics along the pipeline.

On the same day, Myanmar Vice President U Nyan Tun also met with Liao's entourage, speaking highly of CNPC's participation in Myanmar's social welfare undertakings.

Chinese Ambassador to Myanmar Yang Houlan was also present at the meeting.

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