What is needed to connect two local PSTNs via Internet telephony gateways?

Can you answer Mind_Warz’s question about VoIP?:

How do you find a very cost effective way to do the following:

Connect two local PSTNs via Internet telephony gateways

or create a cyber path to the PSTN (public switched telephone networks i.e. mobile phone) enabling interconnection between the Internet and PSTNs.

Background of technology
http://www.cjmag.co.jp/magazine/issues/1997/nov97/1197internettele.html

“The third type of Internet telephony service - that between two telephones - can be implemented by connecting two local PSTNs via Internet telephony gateways. This application of the technology can offer the caller lower phone rates since it uses the Internet for the long-distance portion of the call.

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