Both the English and French teams are refusing to participate in the Heineken Cup and European Challenge Cup next season, following a row with the RFU, which centres on voting and shareholding rights in ERC.
All six unions - Ireland, England, France, Italy, Scotland and Wales - were present at the meeting and the following statement was issued by ERC shortly afterwards.
"Following a meeting of ERCâ00s shareholders in Dublin today, it was agreed that a European club rugby tournament will be staged in the 2007/2008 season, to include teams from all six of the current participating nations," it read.
"The structure of the tournament will be discussed and agreed by the ERC Board in the coming weeks.
"The ERC shareholder meeting was attended by representatives from the six participating unions and club representatives from England and Italy and a regional representative from Wales."
Commenting on the announcement IRFU Chief ExecutivePhilip Browne said: "Today's outcome is certainly welcomed by the IRFU and is a step in the right direction to securing the future of the (Heineken Cup) tournament. Although this announcement is only a starting point, it is good news for Irish rugby and we will working with our fellow board members within the ERC, over the coming weeks, to formulate the structure of the tournament."