The dead man has been identified as 30 year old Michal Duncan, of Hamlet Trace, St. Barbs, Laventille.
According to police reports at around 10:15am on Wednesday a party of Officers who were on mobile patrol in the Laventille, responded to information received about two men who were armed with firearms in the vicinity of the Laventille Technology Centre.
On reaching the vicinity of the walkover the officers observed one man holding a pistol and another man holding a rifle.
The men began firing at the police officers who returned fire.
A chase ensued however the men were able to escape.
Around 12:40am today Police officers were on mobile patrol when they responded to a wireless transmission for assistance from officers of the Port-of-Spain Task Force who were being shot at by two men at Second Hamlet, Laventille.
On arrival, the police observed two men armed with firearms.
The police ordered the men to surrender their weapons, however the men began firing at the officers again.
The officers returned fire which resulted in one of the men being wounded.
The wounded suspect was taken to the Port-of-Spain General Hospital for treatment however he succumbed to his injuries around 1:00am.
Officers found a Smith & Wesson Pistol with three rounds of 9mm ammunitions at the scene.