The review follows a vote by States Members last month to approve, in principle, the Island’s participation in the deal, which is subject to a 90-day cooling-off period.
Members have until 31 March to terminate their involvement in the arrangement if they wish to do so.
As part of the successful proposition which led to the Island’s participation in the agreement, the Scrutiny panel is due to present a report on the TECA and the impact it will have on the transit of goods and trading with the EU.
Meanwhile, the Environment, Housing and Infrastructure Scrutiny Panel is due to conduct a separate review of how the deal will affect fishing.
Brexit Review Scrutiny Panel chairman Deputy David Johnson said: ‘Participation in the UK-EU Trade and Economic Co-operation Agreement will mark a fundamental change in Jersey’s trading relationship with the European Union.
‘We want to understand what the public, industry representatives, freight operators, supermarkets and wholesalers think about the implications of TECA for the Jersey-EU trade in goods.’
He added: ‘We will scrutinise the sections of TECA relating to Jersey goods and trade, to further inform the Council of Ministers and States Members about whether the TECA reflects the best interests of our Island.’
Ahead of writing the review, panel members are due to engage with interested parties such as industry representatives, legal experts and ministers.