Press conference:First Minister Ian Paisley welcomed all the delegations to Stormont and thanked them for working together to further the ideals that were shared by the eight administrations represented.
Referring to the unresolved issue of British funding for Northern Ireland's infrastructure, Dr Paisley said he and Martin McGuinness had discussed funding directly with Gordon Brown. Further talks involving the prime minister and Alistair Darling, the new chancellor of the exchequer, would be held "before September".
"The prime minister was enthusiastic about it," said Dr Paisley. "He said he hoped to be back many times in Northern Ireland, and he was getting more and more to know what our hardships were."
He said the North's financial difficulties were of the British government's "own making".
The British-Irish Council "is going to take off", he said, adding that the body would be used "to the fullest possible extent" by the Stormont Executive. He wished success "to every part of the British-Irish Council".
Mr McGuinness said the staging of the council in Stormont was "a big leap forward". It could be seen in the same terms as the decision of the Stormont parties to share power.
"The meeting of the North- South Ministerial Conference is another mighty leap forward. I think this is a body with an important future. The First Minister and myself enjoy the support of all these administrations and the people they represent."
He said the scale of the attendance signified how seriously the other administrations, together with the two governments, took the council.
Returning to the question of the infrastructure package from Downing Street, Dr Paisley and Mr McGuinness said they had held a meeting with Mr Brown involving the Stormont finance minister Peter Robinson.
The chancellor "is under no illusion whatsoever about where we are coming from, or the importance of a meaningful economic package, particularly with the neglect and underfunding of water and sewerage services over the course of many decades," said Mr McGuinness
Without directly referring to the comparative advantage enjoyed by the Republic over Northern Ireland in relation to rates of corporation tax, Mr McGuinness stressed the need for "a level playing pitch for all of us on this island" about how foreign direct investment was attracted.
There was strong denunciation of violent incidents at the weekend in which a police station, a church and Orange halls were attacked.
Minister for Foreign Affairs Dermot Ahern said the Government agreed with Mr Brown's initiative on sharing intelligence about international terrorists and organised crime.
They would "raise this issue with out European colleagues to get additional information that is available to others".