From the Trinidad and Tobago government website:
The national flag was designed by the Independence Committee and selected to be used as the National Flag in 1962. Its colours are Red, White and Black.
Red is the colour most expressive of our country. It represents the vitality of the land and its people; it is the warmth and energy of the sun, the courage and friendliness of the people.
White is the sea by which these lands are bound: the cradle of our heritage; the purity of our aspirations and the equality of all men and women under the sun.
The Black represents for us the dedication of the people joined together by one strong bond. It is the colour of strength, of unity, of purpose and of the wealth of the land.
The colours chosen represent the elements Earth, Water and Fire which encompass all our past, present and future and inspire us as one united, vital, free and dedicated people.