A government advisory panel will propose that the prime minister and four other Cabinet members come up with strategies on overseas economic cooperation, according to a draft panel report obtained by Kyodo News.

Based on the report, the government plans to set up a meeting between the prime minister, the foreign minister, the finance minister, the economy, trade and industry minister, and the chief Cabinet secretary as early as March, government sources said.

The five will discuss Japan's overall economic cooperation strategies, including official development assistance, international finance, the use of private-sector money, and non-ODA projects -- with other Cabinet members asked to join if necessary, according to the draft.