Identity area
Type of entity
Corporate body
Authorized form of name
Ministry of Trade
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
1977-1985
History
The Ministry of Commerce and Trade was established on 26th September, 1947 and with the inauguration of the new constitution and in terms of the Hon.Prime Ministers Proclamation dated 29th September, 1947 the following Departments were assigned to it.
(1) Department of Commerce
(2) Controller of Imports and Exports
(3) Textile Control Department
(4) Commodity Purchase Department
(5) Paper Control and
(6) Marketing Department
The Departments of Textile Control, Commodity Purchase, Paper Control and Tea Commissioners were closed down later. The Marketing Department was transferred to the Ministry of Agriculture and Food in 1952. After the change of Government in 1953 the Department of Fisheries was assigned to the Ministry and consequently it was designated Ministry of Commerce, Trade and Fisheries. Following the change of Government in 1956 the Ministry of re-designated as the Ministry of Commerce and Trade and assigned the Department of commerce, Registrar of Companies. Tourist Bureau and the Rubber Commissioners (re-designed commodity purchase). With the change of Governments and also reshuffling of the functions of Ministers in 1960, 1961, 1964, 1965, 1970 and 1977 the subjects of Food and Shipping were assigned to the Ministry at different times. The Trade Policy of the Government in the 1970 has gone through two distinct phases of development. The first was the greater participation by the Government in the Internal and External Trade of the Country during 1970-1977 and the second was the liberalizasion of Trade since November 1977. When the previous Government came to power in 1970 a substantial part of the Import Trade was already in the hands of the State and state controlled agencies, ie, Food Commissioner. Co-operative Wholesale Establishment Salu sala and a number of other Industrial Corporations. The Economic Programme announced by the present Government in 1977 represented a significant shift in policy towards the creation of an ‘Open Economy’.
The Co-operative Wholesale Establishment, Building Materials Corporation, Salusala and the Tractor Corporation, which are Major State Trading Agencies serving the domestic market were made to compete with the Private Sector, in the import and distribution of various commodities. The Scheme of Buffer Stocks of Rice by the CO-operative Wholesale Establishment was also introduces in 1978. These measures were aimed at bringing about price stability and the maintenance of adequate supplies. A new concept in the sphere on Internal Trade conceived and developed by the Ministry of trade is that of ‘Mahapola’. In establishing a string of ‘Mahapolas’ throughout the Country the Ministry seeks to make available to the rural population of the Country hereto exploited by the Private Trader, goods at prices prevailing in Colombo and other major cities, and to purchase produce at reasonable prices. In the sphere of exports two institutions have been established in order provide the institutional support to achieve a rapid expansion of exports which is a prerequisite for the growth of the economy. They are the Export Development Board and the Sri Lanka Credit Insurance Corporation.
On 1st August 1979 the Sri Lanka Port Authority was established by amalgamating different Institutions functioning in the Port, to take responsibility for streamlining the operation of the port.
It may be mentioned that successive governments since independence have through the Ministry of Trade attached great importance to Sri Lanka’s participation in the activities of International Agencies such as GATT and UNCTAD with a view of enhancing and protecting the international trading interests of the Country.
(1) Department of Commerce
(2) Controller of Imports and Exports
(3) Textile Control Department
(4) Commodity Purchase Department
(5) Paper Control and
(6) Marketing Department
The Departments of Textile Control, Commodity Purchase, Paper Control and Tea Commissioners were closed down later. The Marketing Department was transferred to the Ministry of Agriculture and Food in 1952. After the change of Government in 1953 the Department of Fisheries was assigned to the Ministry and consequently it was designated Ministry of Commerce, Trade and Fisheries. Following the change of Government in 1956 the Ministry of re-designated as the Ministry of Commerce and Trade and assigned the Department of commerce, Registrar of Companies. Tourist Bureau and the Rubber Commissioners (re-designed commodity purchase). With the change of Governments and also reshuffling of the functions of Ministers in 1960, 1961, 1964, 1965, 1970 and 1977 the subjects of Food and Shipping were assigned to the Ministry at different times. The Trade Policy of the Government in the 1970 has gone through two distinct phases of development. The first was the greater participation by the Government in the Internal and External Trade of the Country during 1970-1977 and the second was the liberalizasion of Trade since November 1977. When the previous Government came to power in 1970 a substantial part of the Import Trade was already in the hands of the State and state controlled agencies, ie, Food Commissioner. Co-operative Wholesale Establishment Salu sala and a number of other Industrial Corporations. The Economic Programme announced by the present Government in 1977 represented a significant shift in policy towards the creation of an ‘Open Economy’.
The Co-operative Wholesale Establishment, Building Materials Corporation, Salusala and the Tractor Corporation, which are Major State Trading Agencies serving the domestic market were made to compete with the Private Sector, in the import and distribution of various commodities. The Scheme of Buffer Stocks of Rice by the CO-operative Wholesale Establishment was also introduces in 1978. These measures were aimed at bringing about price stability and the maintenance of adequate supplies. A new concept in the sphere on Internal Trade conceived and developed by the Ministry of trade is that of ‘Mahapola’. In establishing a string of ‘Mahapolas’ throughout the Country the Ministry seeks to make available to the rural population of the Country hereto exploited by the Private Trader, goods at prices prevailing in Colombo and other major cities, and to purchase produce at reasonable prices. In the sphere of exports two institutions have been established in order provide the institutional support to achieve a rapid expansion of exports which is a prerequisite for the growth of the economy. They are the Export Development Board and the Sri Lanka Credit Insurance Corporation.
On 1st August 1979 the Sri Lanka Port Authority was established by amalgamating different Institutions functioning in the Port, to take responsibility for streamlining the operation of the port.
It may be mentioned that successive governments since independence have through the Ministry of Trade attached great importance to Sri Lanka’s participation in the activities of International Agencies such as GATT and UNCTAD with a view of enhancing and protecting the international trading interests of the Country.
Places
Legal status
Functions, occupations and activities
Mandates/sources of authority
Internal structures/genealogy
General context
Relationships area
Control area
Description identifier
LK-NA/MT
Institution identifier
LK-NA
Rules and/or conventions used
ISAAR
Status
Final
Level of detail
Minimal
Dates of creation, revision and deletion
Language(s)
- English
Script(s)
- Latin