Companies on both sides of the Border will be encouraged to develop public procurement strategies across both jurisdictions under an operational plan approved yesterday by the North/South Minister Council on trade and business development.

The Tánaiste, Ms Harney, who attended the meeting in Limerick, said there were more examples of Northern firms winning public procurement contracts in the Republic. "Very few companies in the South get involved in Northern public procurement. "

There was also a desire to develop venture capital opportunites, she added.

The council meeting focused on adopting the operating plan put forward by InterTradeIreland, the business development body.

A position paper on public procurement developed by PricewaterhouseCoopers on a consultancy basis was also considered.

The plan's main objectives include the promotion of alliances and private equity, and the development of an all-island business model.

Sir Reg Empey, the Northern Assembly's Minister of Enterprise, Trade and Investment, said a certain amount of benchmarking needed to be done so that cross-Border business activity could be measured accurately. The success of import substitution policies could then be gauged. A common measuring process was also needed to attract EU grants in Border areas .

He said the level of co-operation between businesses across the two jurisdictions was very low and the ministerial council was trying to build that up.