The establishment of the Ulster Canal Advisory Forum has been welcomed by Sinn Fein.
The party's Infrastructure spokesperson, Declan McAleer, MLA, said the development has the potential to transform tourism in Armagh, Tyrone, Cavan, Fermanagh, and Monaghan.
The forum will also examine possible funding mechanisms, including existing funding streams as well as the potential to leverage funding from other sources.
Mr Mc Aleer said: "The setting up of an all-Ireland forum to help take this forward is a welcome development that will hopefully see it progress quicker.
"Sinn Féin has raised this important issue at the North South Ministerial Council and in both the Assembly and the Dáil.
"Partnership working is the best way to take this project forward in order to help continue to develop the tourism economies in border counties."
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