The Economic Development Advisory Board is focused on Economic Development through the development and advocacy of policies, programmes and projects which bear on Trinidad and Tobago’s long term development and transformation, and specifically, with those that promote the diversification of the economy.
Diversification is defined by the Advisory Board in terms of the promotion of economic activities which earn foreign exchange, save foreign exchange and which promote productivity.
As an advisory body, the Board’s remit is to provide advice to the Prime Minister of Trinidad and Tobago. In the course of its operation, the Advisory Board maintains a strong focus on sound economic analysis, proper public sector management principles, and good governance; and co-opts persons and resources from other disciplines as required. The Board therefore aims to be multi-disciplinary, and seeks to draw on local and international expertise that can shape the conditions within Trinidad and Tobago which influence the country’s economic potential and performance.
The composition of the Advisory Board includes persons from academia, the private sector, public sector, and the labour movement, all of whom are independent professionals. They are supported by a small secretariat of professional staff of various disciplines who are employed by the Ministry of Planning and Development.
As a part of its operations, the EDAB has formulated an extensive work programme. Where appropriate and relevant, the work programmes of the predecessor boards, the Economic Development Board and Council for Competitiveness and Innovation have been incorporated.
An extensive look at this work programme can be found here.
For a more detailed view into the operations of the EDAB, the Advisory Board’s Terms of Reference is available here.