Politicians from Jersey have travelled to Guernsey to discuss the possibility of sharing public services.
The public accounts committee from both islands will meet on Guernsey to discuss the reality of such a strategy.
It has been suggested that services including health, tax collection and competition regulation could be merged to save the two islands money.
It is hoped firm recommendations for the strategy will be finalised at the meeting.
Chairman of Jersey's public accounts committee Senator Ben Shenton said: "The idea is to come up with some firm recommendations on how we can save money and see if the political will is there to do so."
"The Guernsey accounts committee came over to Jersey last year because they were very keen on looking at areas where, as a Channel Island entity, we can save money."