London is host to the European Banking Agency as well as the EMA, but the rest of the EU can not agree which country should get the agencies after Brexit.
The European Commission will assess each of the cities based on criteria approved by the 27 member states remaining in the union.
Milan, Copenhagen, Athens, Amsterdam and Barcelona are among the candidates to host the agency, with Milan seen as a possible frontrunner.
The Irish government has earmarked three potential locations for the EMA headquarters, two in Dublin's docklands financial district and another by the city's airport.
Ireland's Department of Health and Department of Finance are competing against other EU countries to offer a new home to the European Banking Authority (EBA) and the European Medicines Agency (EMA), now based in London's Canary Wharf.
The Minister for Health, Simon Harris has today claimed that Dublin is the ideal new home for the European Medicines Agency.
Cities of the great majority of member States are in competition for the AEM, which is in charge of the scientific evaluation, supervision, and security controls for the drugs to uses in human and veterinary products marketed in the EU.
The EMA, which regulates medicines across the European Union, has to move because of Brexit. The publication will then be followed by discussions by the General Affairs Council in October and a vote in November, the statement added.
"Luxembourg has not positioned itself as vultures circling round the Tower of London waiting for all those jobs to fly out our way", Luxembourg's ambassador George Friden told reporters in Brussels.
The deadline for applications was Monday at midnight.
However, the only cities in the running for both agencies are Dublin, Brussels, Vienna and Warsaw.
Eight are proposed for the european banking Authority (EBA), the less important, but with close to 200 employees.
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