Govt. to establish Sri Lanka Institution of Economics and Trade

• Aims to educate economics, trade for politicians and bureaucrats to draft better national policies

The Government has decided to set up a new institute to educate economics and trade politicians and bureaucrats to draft better national policies in future.

“The Members of Parliament, as well as the Government officers, need to obtain training on economic and trade activities so that entering into decisions with understanding is possible when formulating national policies and implementing them,” a statement comprising Weekly Cabinet Decisions issued by the Government Information Department noted.

Cabinet Co-Spokesman and Minister Bandula Gunewardena said the new entity will be established as ‘Sri Lanka Institution of Economic and Trade’.

The proposal to instruct the Legal Draftsman to draft a bill for the establishment of the ‘Sri Lanka Institution of Economics and Trade’ presented by President Ranil Wickremesinghe, in his capacity as the Finance, Economic Stabilisation and National Policies Minister was approved by the Cabinet of Ministers at its meeting on Monday.

The new institution has been recognised as appropriate to enable the provision of necessary facilities.