Williams and Force India have rejoined FOTA, the Formula 1 Teams Association - it was announced on Wednesday, ahead of this weekend's Italian Grand Prix at Monza, the final European event of the season.
Williams and Force India were expelled from the group earlier this year when both opted to enter the 2010 FIA Formula 1 World Championship while the dispute over Max Mosley's budget cap initiative was still at its height.
FOTA also added that the new teams, namely US F1, Manor and Campos Grand Prix, are also welcome to join the association.
"The FOTA executive committee, chaired by Luca di Montezemolo, today enjoyed a productive meeting in Monza. FOTA re-affirmed that all teams competing in Formula 1 are able to join the association. FOTA therefore welcomes back into full membership both Williams and Force India," the FOTA statement confirmed.
"The executive committee also looks forward to welcoming the new entrants to join the association whilst they continue to prepare for next year's championship."
In addition FOTA re-affirmed that it wants to work with the FIA, the sports governing body, and F1 boss, Bernie Ecclestone for the benefit of the sport as whole and as such wishes to begin negotiations for signing a new Concorde Agreement to cover the period after 2012.
Meanwhile it has been proposed that a seminar will be held with the media, sponsors and promoters to 'discuss ways' to improve the spectacle.
"The FOTA executive committee now looks forward to working with the FIA and commercial rights holder to promote a healthy, dynamic and sustainable sport. To this end, FOTA intends to now enter into open discussion with the commercial rights holder with the wish to confirm arrangements beyond 2012," it added.
"Furthermore, FOTA will now arrange a seminar, open to representatives of the major stakeholders (including media, sponsors and promoters), to discuss how working together we can develop the show creating a more attractive spectacle for the fans."