In appliance to its advisory function on settling matters pursuant to Article 5, the Economic and Social Council is competent in:
- analysing and issuing opinions on draft government decisions, ordinances and bills to be submitted for adoption to the Parliament;
- analysing and issuing opinions on draft programs and strategies not embodied into acts, prior to their adoption;
- informing the Government and the Parliament on the emergence of economic and social events that call for new regulations;
- analysing causes of disputes at national or industry level and working out proposals for their settlement in the national interest;
- working out analysis and studies on the economic and social matters referred by the Government, the Parliament or on its own initiative;
- drawing up and supporting the implementation of strategies, programs, methodologies and standards in the field of social dialogue;
- observing the duties established by Convention 144/1976 of the International Labour Organization on tripartite consultations, intended to promote the enforcement of international labour standards.

The Economic and Social Council has a tripartite structure and comprises 45 members appointed by the social partners, as follows :
- members appointed by mutual agreement by employers confederations representative at national level;
- members appointed by mutual agreement by the trade union confederations representative at national level;
- members appointed by the Government.

The Economic and Social Council’s members serve for a term of four years; their mandate is renewable.

The Economic and Social Council operates under the following management structure:
- Plenary Session;
- Bureau;
- President and two Vice-presidents;
- Secretary General.

The president of the Economic and Social Council is validated by the Parliament for a term of four years, at the proposal of the Plenary Session of the Economic and Social Council.

The Economic and Social Council structure includes specialised permanent or temporary special Sections.

The permanent Sections are the following: - Section for Economic Development and Restructuring of the national economy;
- Section for Privatisation, Operation and Increase of Competitiveness of the Economic Operators;
- Section for Labour Relations and Wage Policy;
- Section for Social and Health Protection;
- Section for Education, Research and Culture,
- Section for Monetary, Financial, Fiscal and Income Policies.

The Economic and Social Council operates either at the request of the legislative bodies (Government, Parliament) or on its own initiative on matters falling within its competence.

The activity of the Economic and Social Council is organised according to its Rules of Procedure.

The Specialised Sections examine the matters specific to their area of competence, issue opinions to be examined during the Plenary Session, which is supposed to provide the final opinion.

The Plenary Session decisions are generally adopted by the social partners’ consensus. When the consensus is not reached, the decisions are put to vote and adopted by a three-quarters majority of the members of the Economic and Social Council present at the meeting.

The Plenary Session proceedings take place in open sessions.