Tánaiste Micheál Martin has held talks with British Foreign Secretary David Lammy in Dublin as part of a re-set of Anglo-Irish relations following the election of the Labour party.
The UK has welcomed the decision to open a new Ireland House in central London in 2026, bringing together Ireland's Embassy and state agencies for the first time.
The Government said the investment underpins a trading partnership between UK and Ireland worth €120bn every year.
Mr Martin and Mr Lammy also expressed "deep concern" about the escalation in the Middle East and called for "a political solution".
The Tánaiste and Minister for Foreign Affairs held the meeting with Mr Lammy in Iveagh House.
It follows on from UK Prime Minister Keir Starmer's visit to Dublin last month and Mr Starmer's trip to Brussels yesterday where he met European Commission President Ursula von der Leyen.
A spokesperson for the Department of Foreign Affairs said Mr Lammy's visit provided an important opportunity to "underscore the commitment and ambition" of both governments for the British-Irish relationship.
It is the first visit by a UK Foreign Secretary to Dublin since 2017.
Among the issues discussed during the bilateral meeting were developments in Northern Ireland, progress on the EU-UK relationship and work to repeal and replace the Legacy Act.
A joint communique said "a particular focus" was placed on connections between people and supporting sustainable economic growth through increased trade and investment.
It also said that Ireland's decision to open a new Ireland House in central London in 2026 was "a clear expression of intent and confidence" in the UK-Ireland relationship.
Mr Martin and Mr Lammy also discussed the Russian invasion of Ukraine and the escalating conflict in the Middle East, agreeing to intensify cooperation and consultation on foreign and security issues.
"At what is a critical moment in the Middle East, they agreed on the need for an immediate ceasefire in Gaza, the release of hostages, unhindered access for humanitarian aid, and renewed focus on a two-State solution, which is the only viable path to lasting peace and security for Israelis and Palestinians," it said.
Pleased to welcome Foreign Secretary @DavidLammy to Dublin today.
— Micheál Martin (@MichealMartinTD) October 3, 2024
Important chance to underline the ambitions of our Governments for the British-Irish relationship, and to discuss pressing issues on our shared global agendas. pic.twitter.com/BQD6uxwcp0
"They condemned Iranian attacks on Israel, expressed deep concern about spiralling violence in the region, and agreed on the need for an immediate ceasefire between Hezbollah and Israel.
"A political solution is the only way to restore stability and security for those innocent people living either side of the Lebanese-Israeli border."
Mr Martin said ahead of the meeting: "In an enormously complex global environment, it makes sense for Ireland and the UK to work together as closely as possible to address urgent global challenges.
"The escalation of the conflict in the Middle East requires immediate and decisive action."
Before the meeting Mr Lammy said: "For too long our relationship with Ireland has not delivered to its full potential - but now, together, we are setting out on a new path.
"Ireland is our closest neighbour in many more ways than just geography. Our energy systems, infrastructure, economic markets, culture, sporting pursuits and family trees are deeply intertwined.
"Let's use this unique connection to strengthen our partnership to help both the UK and Ireland forge a more secure and prosperous future."
UK cabinet office minister Nick Thomas-Symonds, who is leading the work on the EU reset, said he was "delighted" to be in Dublin with Mr Lammy "to discuss how the UK, Ireland and the EU can start to build the stable, positive and forward-looking relationship we need for long-term cooperation".
