Japan, China and South Korea will inaugurate a high-level economic dialogue forum to spur trade and investment and forge close economic relations.

Government sources said Thursday that Japan informally proposed the establishment of the trilateral official economic forum the first of its kind among the three Asian powers and received basic endorsements from China and South Korea.

The forum will be attended by bureau chief-level officials and will hold its inaugural meeting at a still-undetermined site as early as December, the sources said. The Japanese officials will be from the Foreign Ministry and the Ministry of Economy, Trade and Industry.