The body will support the National Economic Council, which is providing a new approach to co-ordinating economic policies across government.
The Minister said:
"The new Regional Economic Council offers the opportunity to ensure that the experiences and concerns of the people of the North West - from the boardroom down - are heard when decisions are taken at national level.
"The way the North West performs is vital to the economic health of the nation and now more than ever it's important that it has its say.
"I will be listening to the views of a broad range of people directly involved in the regional economy and reflecting them back to the Chancellor and his senior colleagues. It's a big challenge but I'm greatly looking forward to this new responsibility."
The Regional Economic Council will bring together Regional Ministers with chairs of Regional Development Agencies and representatives of business and trades unions to meet quarterly, It is chaired by the Chancellor and the Secretary of State for Business, Enterprise and Regulatory Reform. Its purpose is to ensure that the issues and concerns of each region are heard and acted upon.
Beverley Hughes will also join the new Regional Council of all Regional Ministers that will meet frequently, chaired by Cabinet Office minister Liam Byrne.
She said:
"Financial instability as a result of conditions in global financial markets, high and volatile global oil prices impacting on household fuel bills and high global food prices have changed the economic landscape.
"The setting up of the National and Regional Economic Councils will help people and businesses deal with the current economic uncertainties.
"The current economic climate has an impact on us all. But we are confident that these measures will help restore confidence and tackle the issues head on."
In September the Regional Minister attended an event in Liverpool with the Prime Minister to launch a document drawn up by Government and the North West Development Agency which set out how the region's economy had changed and restructured to face the challenges of the future.
