The Dail and Seanad's Joint Committee for Enterprise and Small Business has paid a historic visit to the North's Assembly to meet with its Northern counterpart.

The delegation, which was led by the committee's chairman, Mr Ivor Callely, held talks with the Assembly's Enterprise, Trade and Investment committee in the first meeting of its kind to discuss issues of mutual interest.

Among the items on the agenda were a common energy market, the North/South trade body, small businesses, the euro and co-operation between the Industrial Development Board in Northern Ireland and IDA Ireland.

Speaking after the meeting, which he described as a "very historical occasion", Mr Denis Naughten said there was a danger of hundreds of jobs being lost in the Republic due to pressures from the US economy, which could also affect future investment north of the Border.

Mr Callely said both committees had recognised the opportunities for a common sense of purpose North and South in the development of enterprise, trade and small businesses.

Both delegations stressed the need for the development of an all-island energy strategy as highlighted last week by the North's Minister of Enterprise, Trade and Investment, Sir Reg Empey and the Minister for Public Enterprise, Ms O'Rourke. The establishment of gas and electricity links would help to create the infrastructure necessary to bring investment to some of the most deprived areas of the island, particularly the north-west.

The Assembly committee's two DUP members, Mr Jim Wells and Mr Wilson Clyde, did not attend the meeting but its chairman, Sinn Fein's Mr Pat Doherty, said the two committees had agreed on a timetable of meetings in the months ahead. Describing the exchanges as "extremely positive", he said yesterday's meeting was the first in a series planned by the Assembly committee.

Tomorrow it will travel to Dublin to meet with IDA Ireland and Enterprise Ireland and talks with its Scottish and Welsh counterparts are planned.