The Finance Ministry said Monday it will set up an Asia-wide financial scheme to help small Japanese exporters quickly cash their sales credits.

The ministry said it will cooperate with the Asian Development Bank and Japanese banks to launch the scheme as quickly as possible.

The plan comes as other Asian nations are becoming increasingly important trade partners. Falling labor costs in the region have prompted a growing number of small and midsize Japanese firms, including electronics parts makers, to send items to the region for assembly.