Minsters Micheal Martin and Mary Hanafin met with the North's Minister for Employment and Learning Sir Reg Empey in Dublin today.
The visit was the first official visit of a Stormont Cabinet member since the new Assembly was established in May.
The politicians identified areas where North/South co-operation can be enhanced such as research, innovation, technology and the management of migrant workers within the workforce.
Sir Reg said a major job skills conference is expected to be held in 2008 between Easter and the summer break.
"The event will focus on tailoring the education and training opportunities of job seekers to make them more attractive to prospective employers.
"There will be a strong emphasis on revitalising communities in cross-border areas which suffered economically during the Troubles."
Sir Reg said that the controversial decision by Aer Lingus to transfer Heathrow slots from Shannon to Belfast may be the start of a new trend in Northern Ireland's favour.
"Northern Ireland is improving its ability to compete for investment now and we do have obvious advantages which we will be promoting when attracting projects.
"Our economy has been isolated and crippled for many years and it is encouraging to finally see some of these decisions coming our way."
Minster for Trade and Enterprise Micheal Martin said both governments should work together in the context of a globalised economy where there is a mutual benefit to be achieved.
"We need to continue building closer relationships in the areas of innovation and research, development of workforce skills, and the increasing number of migrant workers within our workforce."
Minister for Education and Science Mary Hanafin said she discussed further opportunities for co-operation in the areas of further and higher education with Sir Reg.
"We can foster closer working relationships between the two departments and consider how to further develop and deepen co-operation into the future."