The Council for Trade and Economic Development (COTED) promotes trade and economic development of the Caribbean Community (CARICOM) and oversees the operations of the Single Market and Economy.
Specifically, Article 15 of the Revised Treaty of Chaguaramas , states the Council which consists of Ministers designated by the Member States, will:
- Promote the development and oversee the operation of the CARICOM Single Market and Economy;
- evaluate, promote and establish measures to enhance production, quality control and marketing of industrial and agricultural commodities so as to ensure their international competitiveness;
- establish and promote measures to accelerate structural diversification of industrial and agricultural production on a sustainable and regionally-integrated basis;
- determine and promote measures for the accelerated development and marketing of services;
- promote and develop policies and programmes to facilitate the transportation of people and goods;
- promote measures for the development of energy and natural resources on a sustainable basis;
- establish and promote measures for the accelerated development of science and technology;
- promote and develop policies for the protection of and preservation of the environment and for sustainable development;
- promote and develop, in collaboration with the Council for Foreign and Community Relations, co-ordinated policies for the enhancement of external economic and trade relations of the Community, and
- undertake any additional functions remitted to it by the Conference, arising under this Treaty.
Each Member State shall be entitled to designate alternates to represent it on the COTED.