Both countries agreed to face each other during the International Cricket Council (ICC) meeting in Auckland, New Zealand, today.
The nine teams are expected to play three home and away series over the two years that count for the championship, with series a minimum of two and maximum of five Tests.
Pakistan is scheduled to tour England for two Tests, fives ODIs and a solitary T20I in May next year and Ireland hopes to use this window to organize the match at Malahide.
Ireland played their first one-day global against England in 2006 and qualified for the World Cup the following year, where they beat Pakistan and Bangladesh. Cricket has been played in Ireland for almost 200 years but it was not until 1969 that they made the rest of the world game take true notice when they bowled out the West Indies for just 25 at Sion Mills in a televised match. The days of lengthier ODI series appears to be over.
"It's fantastic news for Irish cricket", Porterfield added.
"This means fans around the world can enjoy global cricket knowing every game counts and in the case of the ODI league, it counts towards qualification to the ICC Cricket World Cup".
Four-day Tests have also been allowed, although they will not count towards the championship as Richardson said such games are still at an experimental stage.
"Our priority was to develop an worldwide cricket structure that gave context and meaning across global cricket and particularly in the Test arena".
Cricket Ireland chief executive Warren Deutrom recently admitted the Test newcomers would be open to the concept, with Ireland having excelled in four-day games in the rung below Test cricket, the ICC's Intercontinental Cup.
The moves are created to add "context" to all test and one-day matches during the cycle of the league, answering concerns that test cricket's popularity has been supported exclusively on existing rivalry between nations.
"The trial is exactly that, a trial, just in the same way day-night Tests and technology have been trialled by Members".
"Four-day tests will also provide the new test-playing countries with more opportunities to play in the longer version of the game against more experienced opponents which, in turn, will help them to hone their skills and close the gap with the nine ranked teams".
Points would be allocated for every bilateral series.