A Japanese newspaper reported Saturday that South Korea, China, and Japan will make a final agreement on their trilateral economic partnership in May, to boost cross-border investment and better protect intellectual property.

The Nihon Keizai Shimbun said the three nations plan on passing the accord through their legislatures, with the goal of the accord taking effect in 2012.

This is the first of its kind among the three nations.

The planned trilateral deal would enable under international frameworks settlement of intellectual property disputes and of friction between investors and national governments. It is intended to drive investment by easing regulations on foreign companies.

The deal is expected to be sealed when leaders of the three countries meet in Tokyo in March 2011, four years after negotiations were launched.