The Irish and Welsh governments have published their first ever joint action plan, which includes regular structured meeting between ministers and stakeholders from both countries.
At the heart of this new initiative is a shared commitment to maintain the closest possible relationship between Ireland and Wales, following the UK's departure from the EU.
It aims to build on an Irish-Welsh regional cooperation agreement that operated when the UK was part of the EU, but which has lapsed with Brexit.
Minister for Foreign Affairs Simon Coveney and Welsh First Minister Mark Drakeford published the document today, St Davids Day.
The formal shared statement sets out the ambitions and plans for the Ireland-Wales relationship in the years ahead.
Both countries will work to increase cooperation and collaboration between governments and partners across the business, arts, sporting and community sectors.
Mr Coveney said the two sides "plan to host an inaugural Ireland Wales Forum later this year to bring together political, economic and broader stakeholders to build relationships, to reflect on ongoing collaboration and to identify opportunities for further cooperation".
Mr Drakeford said the new framework "underpins our joint commitment to strengthening our existing ties at political, economic and cultural level.
"I look forward to continuing to build on our existing ties and deepen cooperation with our closest European Union neighbour."