I have convened a meeting of the British-Irish Council (BIC) in Cardiff today to discuss the fundamental changes that will be brought about by the UK’s exit from the European Union. The meeting has been labelled “extraordinary” by the council because it is ad hoc and relatively unplanned. However, today’s meeting is truly set to be extraordinary because of its significance at this historic time for British politics.

The British-Irish Council, which was created during the Northern Ireland peace process, has played a unique role in developing relationships and facilitating frank and open discussions between members. At this tumultuous time, it is more important than ever to maintain the strength of these relationships and work together to map out a successful way forward across our islands.

Today’s meeting will bring together leaders from both sides of the EU referendum debate, and includes representatives who already sit outside the EU. I am expecting debate to be full, frank and honest – an open arena where ideas and new approaches can be heard, as well as concerns aired.

My absolute priority is protecting the Welsh economy and developing our trade links. Wales does business around the world and we aim to do more in the future, not less. Although there are challenges ahead, we are facing them from a position of strength. Unemployment is at a 10-year low and our employment rate is outperforming all other parts of the UK, while Wales’ economy boasts a strong international reputation as a place to invest. Already this year, announcements from Aston Martin, MotoNovo, TVR, Essentra, EE and BT have demonstrated our growing reputation as a great country to trade from.

There is good news elsewhere, too. Wales’ inward investment performance is better than ever, and our national airport in Cardiff has become the fastest-growing airport in the UK, which coincides with recent record-breaking tourism figures.

For this momentum to continue, it is vital we retain uninterrupted access to the 500 million customers in the European single market. The importance of the single market cannot be understated – as I stressed to Theresa May when we met at the start of the week. During our meeting, I sought assurances from the prime minister over the half a billion pounds a year that Wales currently receives from the EU. It is vital that the UK government guarantees every penny of this funding is safe.

At today’s meeting, I will share with members the immediate measures we have taken following the referendum and our ongoing strategy to protect jobs and maintain stability. This involves the introduction of six immediate measures to help provide assurance to our business community, including: expansion plans to support Welsh exports; looking anew at campaigns in Wales’ overseas markets to promote inward investment; and developing new ways to boost national competitiveness.

As part of our post-referendum economic strategy, on Monday I am holding a meeting of business leaders and trade unions to discuss how we can help them navigate the choppy waters ahead. My message to them is clear – keep your nerve, keep investing, and keep talking to us.

Wales has a great deal to offer the world. As our recent footballing performance in the Euro 2016 championship showed, we are no strangers to punching above our weight on the international stage. But we need to consider how to maintain and build relations with the EU once the UK is no longer a member of the union.

I expect the benefits of the common travel area between the UK and Ireland to be a key issue in today’s discussion. There is a risk that Brexit could create new barriers between BIC members – this would be in direct opposition to the council’s collaborative mission and something we must avoid at all costs.

Since the 1990s, the EU has provided a stage on which Irish and British politicians have met as equals. Post-Brexit, BIC will be the only forum where the UK and Republic of Ireland, the devolved nations and the crown dependencies, meet as equals.

Today, I will call for a continued commitment to the British-Irish Council to ensure we all continue to work together to safeguard the peace process and maintain strong relations among the people of these islands. Wales – and the rest of Britain and Ireland – remains open, outward-looking, business-friendly and welcoming.