The Joint Committee on the Economic Agreement is the highest relation committee between the central administration and the Basque administration, and in addition to the specific duties assigned by the law, exercises any and all agreements involving matters of tax and finance deemed necessary at any given time for the correct application and development of the provisions contained in the Economic Agreement.
The Join Committee is made up of twelve members, six representatives of the Central administration and the same number of representatives of the Basque administration. Within the Basque representatives, there is one from each Foral Deputation and another three from the Basque Government. In practice the representatives of the Foral Deputations are the General Deputies of the Historical Territories. The representatives of the Basque Government are the Counsellor of Treasury and Economy, who is the head of the Basque delegation, another Counsellor of the Basque Government appointed ad hoc and the Vice-counsellor of Treasury, who acts as secretary of the Committee, function shared with the appointed representative of the State's delegation. On the other hand, the central administration representatives are the Ministry of the Treasury and Civil Service, head of the State delegation, high Officials of this Ministry and Ministers of some other areas appointed ad hoc for the Committee meetings.
The agreements of the Joint Committee on the Economic Agreement require unanimity of all its members. Without prejudice to other functions which are specifically assigned in the Economic Agreement or in any other legal dispositions, the Joint Committee shall exercise the following functions:
Agree on modifications to the Economic Agreement
Agree on coordination and cooperation commitments in matters of budgetary stability.
Agree on the methodology to be used in setting the Quota for each five year period.
Agree on the system and appointment of the members of the Board of Arbitration of the Economic Agreement, and on operation, notice and details of meetings, and the system for adopting agreements.