A merger between the two would create a joint body which could cover a sector worth £36 billion, according to Eventia chairman Simon Hughes.
The proposal to join the associations was made last year. The boards of both associations are now finalising details to create the new venture, and a ballot will be put to IVCA and Eventia members in early April.
Over the next few weeks, working groups will finalise a memorandum of understanding, detailing operational and commercial plans for the new body.
Simon Hughes, chairman of Eventia, said: "We are now at a point where both the consultation that we've had with our members and the detailed work required to create something new and compelling for the live communications industry is almost complete. I'm looking forward to giving our membership the chance to engage directly with this process through the ballot which we will launch in April."
Marco Forgione, chief executive of IVCA, said: "I'm really pleased that so much progress has been made. The two boards are now finalising the details for the creation of a new sector leading membership association. An association which will help lead our industry through the emerging landscape."
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