A new umbrella body has been set up to promote co-operation between the nine universities on the island of Ireland.
Universities Ireland was set up by the university presidents and will be chaired by Prof Gerry McKenna, president of the University of Ulster.
One of its first tasks will be a research project on the feasibility of joint degrees and credit-transfer arrangements between the universities.
Universities Ireland will also examine issues emerging from the six-monthly North-South higher-education conferences organised by the Centre for Cross-Border Studies.
The new body will work on improving Ireland's profile in the international student recruitment market.
It will also foster links between universities and industry, in conjunction with Inter Trade Ireland, the North-South trade and development body.
The new body will be funded by an annual levy paid by its members, and by grants from the Department of Education in Dublin, the Department for Employment and Learning in Belfast and Inter Trade Ireland.
Prof McKenna said the nine universities would gain real benefits from the new body. It would "harness the synergy of their complementary strengths" and would see Ireland recognised as "a world-class centre for higher education".The new body followed the " great tradition" of universities collaborating in the pursuit of knowledge.
The Minister for Education, Mr Dempsey, welcomed the new umbrella group and said it would consolidate existing co-operation and facilitate future co-operation.
"The higher education sector has a key role to play in generating dialogue, analysing issues, exploring concepts and ideas and leading the wider community in the exploration of solutions," Mr Dempsey said.
The new body was also praised by Ms Jane Kennedy, Minister of State at the Northern Ireland Office with responsibility for employment and learning. "Universities Ireland is a very practical response by the universities to the challenges posed by the increasingly competitive and global world of higher education," she said.
