The benefit of peace in the North is being supported by all-island infrastructural investment and co-operation on service provision, Minister for Transport Noel Dempsey said today.
Addressing the third annual All-Island Infrastructure Conference attended by Sinn Fein MLA Gerry Kelly and the DUP's Ian Paisley Jr, Mr Dempsey said North/South co-operation "has reached a new level" since the restoration of powersharing last May.
Mr Dempsey highlighted investment from the Republic to improve cross-border transport links such as €35 million for the Ulster Canal, €580 million for the main Derry to Letterkenny road; and support for City of Derry Airport and the Dublin-Belfast rail line.
Dublin was also investing in science, energy and agriculture research and €60 million had been allocated to an innovation fund for the North.
The creation of a single electricity market and the sharing of health services were also part of the process of co-operative investment aimed at realising the potential of all-Island strategies.
"There is a recognition now, North and South, that we must harness the rewards of peace to plan for prosperity. And we are putting the infrastructure in place to do just that," Mr Dempsey said.
The Government and the Executive are looking to move our two economies to a new innovation-oriented stage of development. And we are putting our money where our mouth is," he added.
The allocation of infrastructure investment over the next 10 years was estimated at €200 billion last month after the Northern Ireland Assembly approved a investment programme worth £18 billion (€27bn). The Republic's National Development Plan worth €184bn runs from 2007-2013 though not all this infrastructure investment.
Mr Paisley and Mr Kelly, sharing a platform for the first time, also addressed delegates at the conference which was held in the Republic for the first time.
Mr Paisley - a junior minister in the office of the First Minister said the Executive's "number one priority" was the growth of an innovative economy which would provide the impetus to improve the quality of life and tackle disadvantage in the North.
"A modern, efficient infrastructure is an essential requirement to economic and social development," he said.
Mr Kelly said the difficult issues remain in the North. "However, we want to stress that we are moving forward now with the sense of urgency and commitment needed to achieve the success we are seeking."
The two-day conference, which moves from Dublin today to Dundalk tomorrow. It will also be addressed by leaders in the private and public sector such as Prof Brenda Drumm chief executive of the Health Service Executive; Andrew McCormick Permanent Secretary at the North's Department of Health and Social Services; Frank Allen chief executive of the Railway Procurement Agency, Niall Quinn of Barclays Bank and Dr Werner Kruckow was appointed Managing Director of Siemens Ireland.