Japan and Russia are likely to compile a new comprehensive package of economic cooperation measures to replace the three-year Hashimoto-Yeltsin Plan, which is to expire at the end of this year, government sources said Friday.

The sources said that Prime Minister Yoshiro Mori and Russian President Vladimir Putin may agree to compile the new cooperation plan at a Tokyo meeting in early September.

If the agreement is reached by the two leaders, the plan will probably be compiled by the end of this year so that it can formally go into effect in January, the sources said.