The National Economic Development Council, a new government entity met for the first time on June 20.

The Council is chaired by the Prime Minister, Dr Feleti Sevele with 11 other members, including three Cabinet Ministers, (the Minister of Finance, the Minister for Labour Commerce and Industries, and the Minister for Transport). Private Sector members are Mana Latu (Agriculture), Lennie Niit (Fishing), Fakatele Faletau (Tourism), Paul Peizer (Bankers Association), Ross Chapman (Chamber of Commerce), Jeremy Wang (Chinese Business Council), 'Atolo Tu'inukuafe (Small Business Association), and Edgar Cocker (Civil Society).

This council will look at how to implement private sector initiatives in agriculture, fisheries, tourism, and infrastructure.

The NEDC has been given a working budget of $15 million, allocated under the government's 2007-08 budget.

A press statement from the Council stated that top on their working agenda is to "review and to recommend actions with regard to the recommendations and resolutions from the first National Economic Summit held in April."

This includes the design and the development of a national private sector development strategy; a national investment strategy and a national export strategy. There was also a recommendation for the establishment of a Trade and Investment Board, the establishment of a Tonga Market Centre in Auckland, the appointment of a trade consul or trade commissioner in Auckland and possibly Sydney, and a trade officer to be attached to Tonga's San Francisco Consular Office. There was also a proposal for the assessment of the establishment of a small credit union bank or corporation to facilitate and increase credit accessibility of cooperatives and credit unions, and the people in the rural areas.